JFrog (NASDAQ:FROG) Price Target Raised to $44.00 at Morgan Stanley

JFrog (NASDAQ:FROG) had its price target hoisted by analysts at Morgan Stanley from $36.00 to $44.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 6.41% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. TD Cowen increased their price objective on JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. UBS Group increased their price objective on JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Truist Financial reiterated a “buy” rating and issued a $35.00 price objective (up previously from $33.00) on shares of JFrog in a research report on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 price objective on shares of JFrog in a research report on Wednesday. Finally, Barclays dropped their price target on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.44.

JFrog Price Performance

JFrog stock opened at $41.35 on Friday. JFrog has a 12 month low of $22.91 and a 12 month high of $48.81. The business has a 50 day simple moving average of $32.62 and a 200-day simple moving average of $30.70. The stock has a market capitalization of $4.21 billion, a PE ratio of -78.97 and a beta of 0.97.

JFrog (NASDAQ:FROG) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.28). JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. As a group, equities research analysts anticipate that JFrog will post -0.32 EPS for the current year.

Insider Activity at JFrog

In related news, Director Frederic Simon sold 35,000 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $35.92, for a total transaction of $1,257,200.00. Following the sale, the director now owns 4,409,432 shares of the company’s stock, valued at $158,386,797.44. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Tali Notman sold 75,635 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $35.00, for a total value of $2,647,225.00. Following the completion of the sale, the executive now directly owns 582,394 shares in the company, valued at approximately $20,383,790. The trade was a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,685 shares of company stock valued at $13,720,965 over the last quarter. Insiders own 15.70% of the company’s stock.

Institutional Trading of JFrog

A number of hedge funds have recently added to or reduced their stakes in FROG. North Peak Capital Management LLC acquired a new stake in JFrog in the 3rd quarter worth about $73,417,000. TimesSquare Capital Management LLC boosted its stake in JFrog by 114.1% in the 3rd 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 during the last quarter. Norges Bank acquired a new stake in JFrog in the 4th quarter worth about $32,878,000. Massachusetts Financial Services Co. MA acquired a new stake in JFrog in the 3rd quarter worth about $32,401,000. Finally, Raymond James Financial Inc. acquired a new stake in JFrog in the 4th quarter worth about $30,554,000. 85.02% of the stock is owned by institutional investors and hedge funds.

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.