JFrog (NASDAQ:FROG) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

JFrog (NASDAQ:FROG - Get Free Report) had its target price lifted by equities research analysts at Canaccord Genuity Group from $38.00 to $45.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 7.07% from the company's previous close.

A number of other research firms also recently weighed in on FROG. Truist Financial reaffirmed a "buy" rating and issued a $35.00 price target (up from $33.00) on shares of JFrog in a research note on Friday, November 8th. Barclays lowered their target price on JFrog from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Needham & Company LLC raised their price target on JFrog from $39.00 to $46.00 and gave the stock a "buy" rating in a research note on Friday. TD Cowen lifted their price target on JFrog from $32.00 to $35.00 and gave the company a "buy" rating in a report on Monday, October 28th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $38.00 price objective on shares of JFrog in a report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.17.

JFrog Trading Up 5.6 %

NASDAQ FROG traded up $2.23 during trading on Friday, reaching $42.03. 2,559,993 shares of the company's stock were exchanged, compared to its average volume of 1,188,064. JFrog has a fifty-two week low of $22.91 and a fifty-two week high of $46.65. The company's fifty day simple moving average is $33.20 and its 200-day simple moving average is $30.68. The firm has a market capitalization of $4.28 billion, a PE ratio of -79.30 and a beta of 0.97.

JFrog (NASDAQ:FROG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.28). The company had revenue of $116.08 million for the quarter, compared to analyst estimates of $114.16 million. JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. Equities analysts forecast that JFrog will post -0.32 EPS for the current fiscal year.

Insider Activity at JFrog

In other news, CFO Eduard Grabscheid sold 834 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $30.60, for a total value of $25,520.40. Following the sale, the chief financial officer now directly owns 97,260 shares in the company, valued at $2,976,156. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ben Haim Shlomi sold 20,443 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $30.60, for a total value of $625,555.80. Following the transaction, the chief executive officer now owns 4,937,011 shares of the company's stock, valued at approximately $151,072,536.60. The trade was a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 411,338 shares of company stock worth $13,710,378. 15.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On JFrog

Large investors have recently modified their holdings of the stock. US Bancorp DE grew its stake in JFrog by 7.7% in the 4th quarter. US Bancorp DE now owns 7,199 shares of the company's stock valued at $212,000 after buying an additional 512 shares during the last quarter. Snowden Capital Advisors LLC grew its position in shares of JFrog by 4.2% in the fourth quarter. Snowden Capital Advisors LLC now owns 13,900 shares of the company's stock valued at $409,000 after purchasing an additional 564 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of JFrog by 91.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,204 shares of the company's stock worth $35,000 after purchasing an additional 574 shares during the period. Van ECK Associates Corp lifted its holdings in JFrog by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 37,229 shares of the company's stock worth $1,093,000 after purchasing an additional 577 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in JFrog by 2.6% in the 4th quarter. Arizona State Retirement System now owns 27,218 shares of the company's stock valued at $800,000 after purchasing an additional 682 shares during the period. 85.02% of the stock is 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.