Needham & Company LLC Issues Positive Forecast for JFrog (NASDAQ:FROG) Stock Price

JFrog (NASDAQ:FROG - Free Report) had its target price raised by Needham & Company LLC from $33.00 to $36.00 in a research report report published on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research firms have also issued reports on FROG. Stifel Nicolaus lowered their price target on JFrog from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Scotiabank decreased their price target on JFrog from $40.00 to $25.00 and set a "sector perform" rating for the company in a research note on Thursday, August 8th. Bank of America reduced their target price on JFrog from $54.00 to $44.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. DA Davidson reaffirmed a "buy" rating and set a $40.00 price objective on shares of JFrog in a research report on Monday, October 14th. Finally, Piper Sandler cut their target price on JFrog from $40.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Three equities research 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.83.

JFrog Stock Performance

Shares of FROG stock traded down $1.76 during trading hours on Friday, hitting $31.10. 2,390,712 shares of the company were exchanged, compared to its average volume of 1,276,065. The firm has a market cap of $3.17 billion, a P/E ratio of -67.80 and a beta of 0.93. The company has a 50 day simple moving average of $29.07 and a two-hundred day simple moving average of $32.44. JFrog has a fifty-two week low of $22.91 and a fifty-two week high of $48.81.

JFrog (NASDAQ:FROG - Get Free Report) last released its quarterly 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. As a group, sell-side analysts expect that JFrog will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Tali Notman sold 11,621 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total transaction of $314,464.26. Following the completion of the transaction, the executive now directly owns 547,413 shares in the company, valued at $14,812,995.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other JFrog news, CTO Yoav Landman sold 15,000 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $28.00, for a total value of $420,000.00. Following the completion of the sale, the chief technology officer now owns 6,627,242 shares of the company's stock, valued at $185,562,776. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Tali Notman sold 11,621 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $314,464.26. Following the completion of the sale, the executive now directly owns 547,413 shares in the company, valued at $14,812,995.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,031 shares of company stock valued at $3,618,247. 15.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JFrog

Several institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in JFrog by 7.0% during the 2nd quarter. Mackenzie Financial Corp now owns 5,841 shares of the company's stock worth $219,000 after buying an additional 384 shares in the last quarter. George Kaiser Family Foundation lifted its holdings in shares of JFrog by 0.7% in the second quarter. George Kaiser Family Foundation now owns 75,037 shares of the company's stock worth $2,818,000 after acquiring an additional 532 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of JFrog by 1.6% during the third quarter. Van ECK Associates Corp now owns 37,229 shares of the company's stock valued at $1,093,000 after purchasing an additional 577 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of JFrog by 33.9% in the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company's stock worth $116,000 after purchasing an additional 662 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of JFrog by 13.6% in the 3rd quarter. US Bancorp DE now owns 6,687 shares of the company's stock valued at $194,000 after purchasing an additional 798 shares during the last quarter. Institutional investors own 85.02% of the company's stock.

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.