JFrog (NASDAQ:FROG) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

JFrog (NASDAQ:FROG - Get Free Report) had its price objective increased by stock analysts at Needham & Company LLC from $36.00 to $39.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target would suggest a potential upside of 13.70% from the company's current price.

Other analysts have also recently issued research reports about the stock. UBS Group increased their price objective on shares of JFrog from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, November 8th. TD Cowen increased their price objective on shares of JFrog from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Truist Financial reaffirmed a "buy" rating and issued a $35.00 price objective (up previously from $33.00) on shares of JFrog in a report on Friday, November 8th. Scotiabank raised their price objective on shares of JFrog from $25.00 to $30.00 and gave the company a "sector perform" rating in a research report on Friday, November 8th. Finally, Robert W. Baird raised their target price on shares of JFrog from $32.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Three research 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's stock. Based on data from MarketBeat, JFrog currently has an average rating of "Moderate Buy" and an average target price of $37.89.

JFrog Trading Up 1.1 %

NASDAQ FROG traded up $0.38 during trading hours on Wednesday, reaching $34.30. 752,437 shares of the company traded hands, compared to its average volume of 949,973. JFrog has a 12 month low of $22.91 and a 12 month high of $48.81. The stock has a market capitalization of $3.49 billion, a PE ratio of -64.72 and a beta of 0.95. The company has a 50 day moving average of $31.08 and a two-hundred day moving average of $30.79.

JFrog (NASDAQ:FROG - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.24). The company had revenue of $109.06 million for the quarter, compared to the consensus estimate of $105.54 million. JFrog had a negative net margin of 13.98% and a negative return on equity of 5.36%. During the same quarter last year, the company earned ($0.10) earnings per share. On average, equities research analysts anticipate that JFrog will post -0.32 earnings per share for the current year.

Insider Transactions at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $31.78, for a total transaction of $1,112,300.00. Following the sale, the director now owns 4,444,432 shares of the company's stock, valued at $141,244,048.96. This represents a 0.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eduard Grabscheid sold 834 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 transaction of $25,520.40. Following the sale, the chief financial officer now directly owns 97,260 shares in the company, valued at approximately $2,976,156. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,146 shares of company stock valued at $8,544,054. 15.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FROG. North Peak Capital Management LLC acquired a new position in JFrog during the 3rd quarter valued at about $73,417,000. TimesSquare Capital Management LLC lifted its position in JFrog by 114.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company's stock valued at $88,133,000 after purchasing an additional 1,617,551 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in JFrog during the 3rd quarter valued at about $32,401,000. Thrivent Financial for Lutherans lifted its position in JFrog by 33.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company's stock valued at $68,969,000 after purchasing an additional 593,478 shares during the period. Finally, Principal Financial Group Inc. lifted its position in JFrog by 55.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company's stock valued at $41,757,000 after purchasing an additional 514,895 shares during the period. 85.02% of the stock is currently owned by institutional investors and hedge funds.

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.