JFrog (NASDAQ:FROG) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of JFrog (NASDAQ:FROG) in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a $33.00 price objective on the stock.

FROG has been the topic of several other research reports. Morgan Stanley reduced their price target on shares of JFrog from $47.00 to $33.00 and set an overweight rating on the stock in a report on Thursday, August 8th. Baird R W upgraded JFrog to a strong-buy rating in a report on Tuesday, August 27th. Piper Sandler cut their target price on shares of JFrog from $40.00 to $32.00 and set a neutral rating for the company in a research note on Thursday, August 8th. FBN Securities started coverage on shares of JFrog in a research note on Wednesday, May 22nd. They set an outperform rating and a $45.00 price target on the stock. Finally, Canaccord Genuity Group cut their price objective on shares of JFrog from $48.00 to $38.00 and set a buy rating for the company in a research report on Thursday, August 8th. Three investment 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’s stock. Based on data from MarketBeat.com, JFrog presently has an average rating of Moderate Buy and a consensus target price of $36.28.

JFrog Price Performance

JFrog stock opened at $28.14 on Monday. The stock’s 50 day moving average price is $31.41 and its 200 day moving average price is $35.71. The company has a market cap of $2.87 billion, a PE ratio of -59.87 and a beta of 0.93. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81.

JFrog (NASDAQ:FROG) last issued its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. The company had revenue of $103.04 million for the quarter, compared to analyst estimates of $103.53 million. On average, equities research analysts anticipate that JFrog will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ben Haim Shlomi sold 20,606 shares of JFrog stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total transaction of $557,598.36. Following the sale, the chief executive officer now directly owns 5,027,493 shares of the company’s stock, valued at $136,043,960.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the transaction, the director now owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ben Haim Shlomi sold 20,606 shares of JFrog stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the transaction, the chief executive officer now owns 5,027,493 shares of the company’s stock, valued at approximately $136,043,960.58. The disclosure for this sale can be found here. Insiders have sold 203,040 shares of company stock worth $6,818,795 in the last quarter. 15.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Frazier Financial Advisors LLC bought a new stake in shares of JFrog during the 4th quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new position in JFrog in the first quarter valued at approximately $44,000. Advisors Asset Management Inc. grew its stake in JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after buying an additional 662 shares during the last quarter. RiverPark Advisors LLC bought a new stake in JFrog in the first quarter valued at $140,000. Finally, SG Americas Securities LLC bought a new stake in JFrog in the second quarter valued at $187,000. 85.02% of the stock is currently owned by 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.