JFrog (NASDAQ:FROG) Given New $39.00 Price Target at Needham & Company LLC

JFrog (NASDAQ:FROG) had its price objective boosted by Needham & Company LLC from $36.00 to $39.00 in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of JFrog in a research report on Tuesday, October 29th. UBS Group upped their target price on shares of JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a report on Friday, November 8th. Scotiabank lifted their price target on JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Barclays dropped their price objective on JFrog from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, TD Cowen lifted their target price on JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and an average target price of $37.89.

JFrog Price Performance

JFrog stock opened at $34.81 on Wednesday. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -65.68 and a beta of 0.95. The firm has a 50-day moving average of $31.20 and a 200-day moving average of $30.84. JFrog has a one year low of $22.91 and a one year high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.24). The company had revenue of $109.06 million for the quarter, compared to analyst estimates of $105.54 million. JFrog had a negative net margin of 13.98% and a negative return on equity of 5.36%. During the same period last year, the company posted ($0.10) earnings per share. As a group, sell-side analysts expect that JFrog will post -0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Ben Haim Shlomi sold 17,775 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $31.93, for a total value of $567,555.75. Following the completion of the sale, the chief executive officer now directly owns 4,957,454 shares in the company, valued at approximately $158,291,506.22. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $31.78, for a total value of $1,112,300.00. Following the sale, the director now directly owns 4,444,432 shares in the company, valued at $141,244,048.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,146 shares of company stock valued at $8,544,054. 15.70% of the stock is owned by company insiders.

Institutional Trading of JFrog

A number of institutional investors have recently modified their holdings of FROG. Migdal Insurance & Financial Holdings Ltd. raised its stake in JFrog by 30.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock valued at $25,963,000 after purchasing an additional 210,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in JFrog by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,508,852 shares of the company’s stock valued at $43,817,000 after buying an additional 159,483 shares during the period. Principal Financial Group Inc. raised its position in shares of JFrog by 55.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock valued at $41,757,000 after buying an additional 514,895 shares in the last quarter. North Peak Capital Management LLC bought a new stake in shares of JFrog during the 3rd quarter worth approximately $73,417,000. Finally, Atom Investors LP boosted its position in shares of JFrog by 57.0% during the 3rd quarter. Atom Investors LP now owns 66,449 shares of the company’s stock worth $1,930,000 after acquiring an additional 24,120 shares in the last quarter. 85.02% of the stock is currently owned by institutional investors.

JFrog Company Profile

JFrog Ltd. provides end-to-end hybrid software supply chain platform in the United States, Israel, India, and internationally. The company offers JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages; JFrog Curation that functions as a guardian outside the software development pipeline, controlling the admission of packages into an organization, primarily from open source or public repositories; JFrog Xray, which scans JFrog Artifactory to secure all software packages; JFrog Advanced Security, an optional add-on for select JFrog subscriptions; and JFrog Distribution that provides software package distribution.