JFrog (NASDAQ:FROG) Price Target Raised to $120.00

JFrog (NASDAQ:FROG) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $115.00 to $120.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 18.84% from the company’s previous close.

FROG has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $115.00 price objective on shares of JFrog in a research report on Wednesday, November 4th. Piper Sandler upped their price target on JFrog from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday. Canaccord Genuity Group upped their price target on JFrog from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen reiterated a “buy” rating and issued a $120.00 price target on shares of JFrog in a report on Thursday, September 3rd. Finally, Wall Street Zen lowered JFrog from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Twenty-one equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, JFrog presently has an average rating of “Moderate Buy” and an average target price of $112.43.

JFrog Stock Performance

Shares of FROG stock opened at $100.98 on Friday. JFrog has a 1 year low of $34.05 and a 1 year high of $105.76. The firm’s 50 day moving average is $93.42 and its 200-day moving average is $72.58. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of -561.00 and a beta of 1.31.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. JFrog had a negative net margin of 3.29% and a negative return on equity of 1.58%. The business had revenue of $179.17 million during the quarter, compared to analyst estimates of $165.92 million. During the same quarter last year, the business posted $0.22 earnings per share. JFrog’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, equities research analysts forecast that JFrog will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at JFrog

In other JFrog news, CTO Yoav Landman sold 249,300 shares of JFrog stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $100.72, for a total transaction of $25,109,496.00. Following the completion of the sale, the chief technology officer owned 5,199,038 shares of the company’s stock, valued at approximately $523,647,107.36. The trade was a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Tali Notman sold 19,157 shares of JFrog stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $90.51, for a total transaction of $1,733,900.07. Following the sale, the executive directly owned 687,472 shares of the company’s stock, valued at $62,223,090.72. This represents a 2.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 900,453 shares of company stock valued at $85,299,266 in the last three months. Insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On JFrog

Several institutional investors have recently modified their holdings of FROG. Diversified Trust Co bought a new stake in JFrog in the third quarter valued at approximately $1,734,000. Russell Investments Group Ltd. lifted its holdings in JFrog by 160.0% during the third quarter. Russell Investments Group Ltd. now owns 354,869 shares of the company’s stock worth $34,437,000 after acquiring an additional 218,368 shares in the last quarter. Pier 88 Investment Partners LLC bought a new position in JFrog during the third quarter worth about $543,000. Illinois Municipal Retirement Fund bought a new position in JFrog during the third quarter worth about $3,000,000. Finally, Knights of Columbus Asset Advisors LLC grew its stake in JFrog by 22.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 27,865 shares of the company’s stock valued at $2,704,000 after acquiring an additional 5,088 shares during the period. 85.02% of the stock is currently owned by institutional investors and hedge funds.

JFrog Company Profile

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment.

Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues.