JFrog (NASDAQ:FROG) Given New $48.00 Price Target at Barclays

JFrog (NASDAQ:FROG) had its price objective lifted by Barclays from $38.00 to $48.00 in a report published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on FROG. Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 target price on shares of JFrog in a report on Wednesday. Truist Financial reissued a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of JFrog in a report on Friday, November 8th. UBS Group raised their target price on shares of JFrog from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Canaccord Genuity Group raised their target price on shares of JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Friday. Finally, TD Cowen raised their target price on shares of JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Three 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.17.

JFrog Stock Up 5.5 %

Shares of FROG stock opened at $39.80 on Friday. JFrog has a one year low of $22.91 and a one year high of $48.81. The company’s 50-day simple moving average is $32.79 and its 200-day simple moving average is $30.71.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) 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%. Sell-side analysts predict that JFrog will post -0.32 earnings per share for the current year.

Insider Activity at JFrog

In related news, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $35.92, for a total transaction of $1,257,200.00. Following the transaction, the director now owns 4,409,432 shares in the company, 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 through the SEC website. Also, Director Yossi Sela sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $31.86, for a total transaction of $796,500.00. Following the transaction, the director now owns 355,129 shares in the company, valued at $11,314,409.94. This represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,685 shares of company stock worth $13,720,965 over the last quarter. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in JFrog by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company’s stock worth $259,882,000 after buying an additional 349,532 shares during the last quarter. TimesSquare Capital Management LLC grew its position in JFrog by 12.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock worth $100,002,000 after buying an additional 365,376 shares during the last quarter. North Peak Capital Management LLC acquired a new position in JFrog in the third quarter worth approximately $73,417,000. Champlain Investment Partners LLC grew its position in JFrog by 48.4% in the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock worth $71,961,000 after buying an additional 797,949 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in JFrog by 33.3% in the third quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock worth $68,969,000 after buying an additional 593,478 shares during the last quarter. Institutional investors and hedge funds 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.