JFrog (NASDAQ:FROG) Given New $39.00 Price Target at Needham & Company LLC

JFrog (NASDAQ:FROG) had its price target upped by Needham & Company LLC from $36.00 to $39.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 14.98% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Scotiabank upped their price objective on shares of JFrog from $25.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Robert W. Baird increased their price target on JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays reduced their price objective on JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. TD Cowen upped their target price on JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price target on shares of JFrog in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.89.

JFrog Price Performance

Shares of NASDAQ:FROG opened at $33.92 on Wednesday. The business’s 50-day moving average is $31.08 and its 200-day moving average is $30.79. JFrog has a 1 year low of $22.91 and a 1 year high of $48.81. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -64.00 and a beta of 0.95.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.24). The business had revenue of $109.06 million for the quarter, compared to the consensus estimate of $105.54 million. JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Analysts anticipate that JFrog will post -0.32 EPS for the current year.

Insider Activity

In other JFrog news, Director Frederic Simon sold 35,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $30.86, for a total transaction of $1,080,100.00. Following the completion of the transaction, the director now owns 4,514,432 shares in the company, valued at $139,315,371.52. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ben Haim Shlomi sold 17,775 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $31.93, for a total transaction of $567,555.75. Following the completion of the sale, the chief executive officer now directly owns 4,957,454 shares in the company, valued at approximately $158,291,506.22. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,146 shares of company stock valued at $8,544,054 in the last three months. Company insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FROG. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of JFrog by 30.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock worth $25,963,000 after acquiring an additional 210,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in JFrog by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,508,852 shares of the company’s stock worth $43,817,000 after purchasing an additional 159,483 shares in the last quarter. Principal Financial Group Inc. boosted its stake in JFrog by 55.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock worth $41,757,000 after purchasing an additional 514,895 shares during the period. North Peak Capital Management LLC purchased a new position in JFrog during the 3rd quarter valued at about $73,417,000. Finally, Atom Investors LP increased its position in shares of JFrog by 57.0% during the third quarter. Atom Investors LP now owns 66,449 shares of the company’s stock valued at $1,930,000 after buying an additional 24,120 shares during the period. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

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.