Morgan Stanley Lowers JFrog (NASDAQ:FROG) Price Target to $33.00

JFrog (NASDAQ:FROG) had its price objective decreased by stock analysts at Morgan Stanley from $47.00 to $33.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 26.24% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of JFrog from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of JFrog in a research report on Tuesday, June 25th. TD Cowen initiated coverage on shares of JFrog in a research report on Wednesday, July 24th. They set a “buy” rating and a $50.00 price objective on the stock. KeyCorp cut their price objective on shares of JFrog from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, FBN Securities began coverage on shares of JFrog in a research report on Wednesday, May 22nd. They issued an “outperform” rating and a $45.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.00.

JFrog Stock Performance

Shares of NASDAQ FROG traded up $1.46 during mid-day trading on Thursday, reaching $26.14. The company had a trading volume of 3,122,110 shares, compared to its average volume of 1,272,460. The stock has a fifty day moving average of $35.00 and a two-hundred day moving average of $37.79. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -55.62 and a beta of 0.96. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $100.31 million during the quarter, compared to analyst estimates of $98.63 million. JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. Sell-side analysts forecast that JFrog will post -0.21 earnings per share for the current fiscal year.

Insider Transactions at JFrog

In other news, CTO Yoav Landman sold 2,250 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $35.28, for a total value of $79,380.00. Following the sale, the chief technology officer now owns 6,744,892 shares in the company, valued at $237,959,789.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CTO Yoav Landman sold 2,250 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $35.28, for a total value of $79,380.00. Following the sale, the chief technology officer now owns 6,744,892 shares in the company, valued at $237,959,789.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ben Haim Shlomi sold 57,550 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the completion of the sale, the chief executive officer now owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,107 shares of company stock worth $9,513,787. Insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

A number of institutional investors have recently bought and sold shares of FROG. Arizona State Retirement System boosted its stake in JFrog by 7.2% during the fourth quarter. Arizona State Retirement System now owns 21,761 shares of the company’s stock worth $753,000 after buying an additional 1,455 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in JFrog during the fourth quarter worth $263,000. International Assets Investment Management LLC acquired a new stake in JFrog during the fourth quarter worth $2,983,000. NewEdge Wealth LLC lifted its holdings in shares of JFrog by 32.7% during the fourth quarter. NewEdge Wealth LLC now owns 196,938 shares of the company’s stock valued at $6,816,000 after acquiring an additional 48,585 shares during the period. Finally, Cornercap Investment Counsel Inc. lifted its holdings in shares of JFrog by 1.2% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 45,767 shares of the company’s stock valued at $1,584,000 after acquiring an additional 535 shares during the period. 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.