KeyCorp Reaffirms Overweight Rating for JFrog (NASDAQ:FROG)

KeyCorp restated their overweight rating on shares of JFrog (NASDAQ:FROG - Free Report) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $46.00 price target on the stock, up from their prior price target of $36.00.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group raised their price objective on shares of JFrog from $38.00 to $45.00 and gave the company a "buy" rating in a report on Friday. Truist Financial raised their price objective on shares of JFrog from $35.00 to $45.00 and gave the company a "buy" rating in a report on Friday. Needham & Company LLC raised their price objective on shares of JFrog from $39.00 to $46.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley raised their price objective on shares of JFrog from $36.00 to $44.00 and gave the company an "overweight" rating in a report on Friday. Finally, Barclays raised their price objective on shares of JFrog from $38.00 to $48.00 and gave the company an "overweight" rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.17.

JFrog Stock Up 5.6 %

JFrog stock traded up $2.23 during mid-day 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. The company has a market cap of $4.28 billion, a P/E ratio of -79.30 and a beta of 0.97. JFrog has a twelve month low of $22.91 and a twelve month high of $46.65. The company has a fifty day moving average of $33.20 and a 200-day moving average of $30.68.

JFrog (NASDAQ:FROG - Get Free Report) last released its earnings results 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 business 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 research analysts expect that JFrog will post -0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Eduard Grabscheid sold 834 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $30.60, for a total value of $25,520.40. Following the completion of the sale, the chief financial officer now owns 97,260 shares in the company, valued at $2,976,156. This trade represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Yoav Landman sold 4,111 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.07, for a total transaction of $148,283.77. Following the completion of the sale, the chief technology officer now owns 6,563,131 shares of the company's stock, valued at $236,732,135.17. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,338 shares of company stock valued at $13,710,378 over the last quarter. Corporate insiders own 15.70% of the company's stock.

Institutional Investors Weigh In On JFrog

A number of hedge funds and other institutional investors have recently modified their holdings of FROG. North Peak Capital Management LLC purchased a new stake in shares of JFrog during the third quarter worth about $73,417,000. TimesSquare Capital Management LLC grew its holdings in shares of JFrog by 114.1% during the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company's stock worth $88,133,000 after buying an additional 1,617,551 shares in the last quarter. Norges Bank purchased a new stake in shares of JFrog during the fourth quarter worth about $32,878,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of JFrog during the third quarter worth about $32,401,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of JFrog during the fourth quarter worth about $30,554,000. 85.02% of the stock is currently 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.