JFrog (NASDAQ:FROG) Upgraded by Raymond James to Moderate Buy Rating

Raymond James upgraded shares of JFrog (NASDAQ:FROG) to a moderate buy rating in a report issued on Thursday morning,Zacks.com reports.

FROG has been the subject of a number of other reports. Needham & Company LLC boosted their price target on JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Truist Financial upped their target price on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus lifted their price target on shares of JFrog from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 price objective on shares of JFrog in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their target price on JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

JFrog Stock Up 2.0 %

Shares of JFrog stock opened at $31.01 on Thursday. JFrog has a twelve month low of $22.91 and a twelve month high of $43.00. The company’s 50 day moving average is $34.59 and its 200 day moving average is $32.28. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -49.22 and a beta of 0.98.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.28). JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. The firm had revenue of $116.08 million for the quarter, compared to the consensus estimate of $114.16 million. Sell-side analysts expect that JFrog will post -0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other JFrog news, CEO Ben Haim Shlomi sold 17,775 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $30.04, for a total transaction of $533,961.00. Following the completion of the transaction, the chief executive officer now owns 4,929,755 shares of the company’s stock, valued at $148,089,840.20. This represents a 0.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eduard Grabscheid sold 2,152 shares of JFrog stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $35.00, for a total value of $75,320.00. Following the completion of the sale, the chief financial officer now directly owns 93,597 shares in the company, valued at $3,275,895. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,104 shares of company stock worth $15,587,729 in the last three months. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in JFrog by 91.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,204 shares of the company’s stock valued at $35,000 after purchasing an additional 574 shares in the last quarter. KBC Group NV increased its holdings in shares of JFrog by 39.0% in the 4th quarter. KBC Group NV now owns 3,938 shares of the company’s stock worth $116,000 after buying an additional 1,105 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of JFrog during the 4th quarter valued at about $131,000. Tower Research Capital LLC TRC lifted its holdings in shares of JFrog by 33,106.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,313 shares of the company’s stock valued at $156,000 after acquiring an additional 5,297 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in JFrog in the fourth quarter worth about $193,000. 85.02% of the stock is currently owned by institutional investors.

About JFrog

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.