JFrog (NASDAQ:FROG) PT Raised to $33.00 at Truist Financial

JFrog (NASDAQ:FROG) had its price objective hoisted by equities researchers at Truist Financial from $30.00 to $33.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 11.52% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus dropped their target price on shares of JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Robert W. Baird initiated coverage on shares of JFrog in a research note on Tuesday, August 27th. They set an “outperform” rating and a $32.00 price target on the stock. Scotiabank decreased their price target on shares of JFrog from $40.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley decreased their price target on shares of JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, UBS Group decreased their price target on shares of JFrog from $41.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.44.

JFrog Stock Down 2.5 %

NASDAQ:FROG traded down $0.77 during mid-day trading on Wednesday, hitting $29.59. 96,437 shares of the stock traded hands, compared to its average volume of 1,288,438. The business’s 50-day moving average price is $28.24 and its 200 day moving average price is $33.22. The company has a market cap of $3.01 billion, a PE ratio of -62.96 and a beta of 0.94. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81.

JFrog (NASDAQ:FROG) last announced its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The company had revenue of $103.04 million for the quarter, compared to the consensus estimate of $103.53 million. Analysts anticipate that JFrog will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ben Haim Shlomi sold 20,606 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the sale, the chief executive officer now owns 5,027,493 shares of the company’s stock, valued at $136,043,960.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Ben Haim Shlomi sold 20,606 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the sale, the chief executive officer now owns 5,027,493 shares of the company’s stock, valued at $136,043,960.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Tali Notman sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $36.68, for a total value of $1,100,400.00. Following the completion of the sale, the executive now directly owns 559,034 shares of the company’s stock, valued at $20,505,367.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 171,031 shares of company stock valued at $5,103,847 over the last quarter. 15.70% of the stock is owned by company insiders.

Institutional Trading of JFrog

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in JFrog by 7.4% during the first quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock worth $335,141,000 after acquiring an additional 523,432 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of JFrog by 22.3% during the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock valued at $115,791,000 after purchasing an additional 561,897 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of JFrog by 4.4% during the first quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock valued at $76,160,000 after purchasing an additional 73,036 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of JFrog by 17.9% during the second quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock valued at $62,904,000 after purchasing an additional 254,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of JFrog by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,668,161 shares of the company’s stock valued at $62,636,000 after purchasing an additional 41,275 shares during the last quarter. 85.02% of the stock is owned by hedge funds and other 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.