Morgan Stanley Cuts JFrog (NASDAQ:FROG) Price Target to $39.00

JFrog (NASDAQ:FROG - Get Free Report) had its price objective dropped by equities research analysts at Morgan Stanley from $44.00 to $39.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 25.48% from the company's current price.

Other equities analysts have also issued reports about the company. Barclays raised their price target on JFrog from $38.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Needham & Company LLC increased their price target on shares of JFrog from $39.00 to $46.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Canaccord Genuity Group increased their price target on shares of JFrog from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. DA Davidson cut their price objective on shares of JFrog from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $38.00 target price on shares of JFrog in a report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.71.

JFrog Stock Down 2.3 %

NASDAQ:FROG traded down $0.72 during midday trading on Wednesday, hitting $31.08. The company had a trading volume of 613,588 shares, compared to its average volume of 1,151,495. The company has a market capitalization of $3.56 billion, a PE ratio of -49.33 and a beta of 0.98. JFrog has a 52-week low of $22.91 and a 52-week high of $43.00. The stock's fifty day moving average price is $34.12 and its 200-day moving average price is $32.37.

JFrog (NASDAQ:FROG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.28). The firm had revenue of $116.08 million during the quarter, compared to analysts' expectations of $114.16 million. JFrog had a negative return on equity of 6.42% and a negative net margin of 16.16%. As a group, research analysts forecast that JFrog will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In other JFrog news, CEO Ben Haim Shlomi sold 17,775 shares of JFrog stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $36.73, for a total transaction of $652,875.75. Following the transaction, the chief executive officer now owns 4,866,809 shares of the company's stock, valued at $178,757,894.57. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Yoav Landman sold 20,000 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $30.45, for a total transaction of $609,000.00. Following the completion of the sale, the chief technology officer now directly owns 6,436,901 shares of the company's stock, valued at approximately $196,003,635.45. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 429,104 shares of company stock worth $15,084,429. Company insiders own 15.70% of the company's stock.

Institutional Investors Weigh In On JFrog

Institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in shares of JFrog by 4.3% during the third quarter. State Street Corp now owns 260,425 shares of the company's stock worth $7,563,000 after purchasing an additional 10,634 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of JFrog during the third quarter valued at approximately $2,200,000. Geode Capital Management LLC lifted its holdings in shares of JFrog by 1.6% in the third quarter. Geode Capital Management LLC now owns 135,642 shares of the company's stock worth $3,939,000 after buying an additional 2,183 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of JFrog by 99.2% during the third quarter. Sanctuary Advisors LLC now owns 9,972 shares of the company's stock worth $321,000 after acquiring an additional 4,967 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in JFrog by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 79,345 shares of the company's stock valued at $2,304,000 after acquiring an additional 3,507 shares during the last quarter. Hedge funds and other institutional investors own 85.02% of the company's stock.

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.