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

JFrog (NASDAQ:FROG - Get Free Report) had its price target increased by research analysts at Needham & Company LLC from $39.00 to $46.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's target price indicates a potential upside of 9.45% from the company's previous close.

A number of other brokerages have also issued reports on FROG. Truist Financial reissued 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. UBS Group raised their price objective on JFrog from $30.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Scotiabank raised their price objective on JFrog from $25.00 to $30.00 and gave the stock a "sector perform" rating in a report on Friday, November 8th. TD Cowen raised their price objective on JFrog from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Finally, Barclays cut their price objective on JFrog from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.17.

JFrog Price Performance

JFrog stock traded up $2.23 during trading hours on Friday, hitting $42.03. The stock had a trading volume of 2,559,993 shares, compared to its average volume of 1,188,064. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of -79.30 and a beta of 0.97. JFrog has a 1-year low of $22.91 and a 1-year high of $46.65. The stock's fifty day moving average is $33.20 and its two-hundred day moving average is $30.68.

JFrog (NASDAQ:FROG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates 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 net margin of 13.98% and a negative return on equity of 5.36%. As a group, sell-side analysts anticipate that JFrog will post -0.32 EPS for the current year.

Insiders Place Their Bets

In other JFrog news, CRO Tali Notman sold 75,635 shares of JFrog stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $35.00, for a total transaction of $2,647,225.00. Following the sale, the executive now directly owns 582,394 shares in the company, valued at $20,383,790. The trade was a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 20,443 shares of JFrog stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $30.60, for a total value of $625,555.80. Following the sale, the chief executive officer now owns 4,937,011 shares in the company, valued at $151,072,536.60. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,338 shares of company stock worth $13,710,378 in the last three months. 15.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its position in JFrog by 91.1% during the 4th quarter. Jones Financial Companies Lllp now owns 1,204 shares of the company's stock valued at $35,000 after purchasing an additional 574 shares during the period. West Tower Group LLC acquired a new position in JFrog during the 3rd quarter valued at approximately $116,000. KBC Group NV boosted its position in JFrog by 39.0% during the 4th quarter. KBC Group NV now owns 3,938 shares of the company's stock valued at $116,000 after purchasing an additional 1,105 shares during the period. BankPlus Trust Department acquired a new position in JFrog during the 4th quarter valued at approximately $131,000. Finally, Tower Research Capital LLC TRC boosted its position in JFrog by 33,106.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,313 shares of the company's stock valued at $156,000 after purchasing an additional 5,297 shares during the period. Institutional investors and hedge funds 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.