JFrog (NASDAQ:FROG) Price Target Raised to $114.00

JFrog (NASDAQ:FROG) had its price objective lifted by Morgan Stanley from $100.00 to $114.00 in a research report released on Thursday, MarketBeat.com reports. The brokerage currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of JFrog in a research report on Thursday, October 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $115.00 target price on shares of JFrog in a research note on Wednesday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of JFrog from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. DA Davidson reiterated a “buy” rating and issued a $115.00 price objective on shares of JFrog in a research report on Friday, September 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of JFrog in a research note on Thursday, September 3rd. Twenty investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.10.

JFrog Trading Up 2.7%

FROG stock traded up $3.00 during trading on Thursday, reaching $113.60. 2,276,995 shares of the stock were exchanged, compared to its average volume of 2,392,486. JFrog has a twelve month low of $34.05 and a twelve month high of $114.44. The company has a market capitalization of $14.16 billion, a P/E ratio of -631.11 and a beta of 1.31. The stock has a 50 day simple moving average of $94.87 and a 200-day simple moving average of $73.87.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. JFrog had a negative return on equity of 1.55% and a negative net margin of 3.29%. The firm had revenue of $179.17 million for the quarter, compared to analyst estimates of $165.92 million. During the same period in the previous year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 30.9% compared to the same quarter last year. Equities analysts predict that JFrog will post -0.09 EPS for the current year.

Insider Transactions at JFrog

In other JFrog news, Director Barry Zwarenstein sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $90.10, for a total value of $112,625.00. Following the completion of the sale, the director owned 29,187 shares of the company’s stock, valued at approximately $2,629,748.70. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CEO Shlomi Ben Haim sold 15,000 shares of the stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $97.52, for a total transaction of $1,462,800.00. Following the completion of the sale, the chief executive officer owned 4,434,305 shares in the company, valued at approximately $432,433,423.60. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 735,453 shares of company stock valued at $70,307,366. Corporate insiders own 11.80% of the company’s stock.

Institutional Investors Weigh In On JFrog

Several large investors have recently modified their holdings of the business. Congress Asset Management Co. boosted its stake in shares of JFrog by 14.4% during the 3rd quarter. Congress Asset Management Co. now owns 1,420,301 shares of the company’s stock worth $137,826,000 after buying an additional 178,310 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of JFrog during the 2nd quarter worth approximately $1,427,000. Wellington Management Group LLP acquired a new stake in shares of JFrog in the 2nd quarter valued at approximately $69,951,000. American Capital Management Inc. bought a new position in shares of JFrog in the second quarter valued at $1,225,000. Finally, Sei Investments Co. grew its stake in shares of JFrog by 169.0% in the first quarter. Sei Investments Co. now owns 468,861 shares of the company’s stock valued at $22,004,000 after buying an additional 294,547 shares in the last quarter. 85.02% of the stock is currently owned by institutional investors.

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. The broader platform also offers tools for continuous integration and delivery, software distribution, and software supply-chain security, and can be deployed in cloud, on-premises, or hybrid environments.