Canaccord Genuity Group Increases JFrog (NASDAQ:FROG) Price Target to $45.00

JFrog (NASDAQ:FROG) had its price target boosted by investment analysts at Canaccord Genuity Group from $38.00 to $45.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 8.83% from the company’s previous close.

Other analysts also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of JFrog from $36.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group increased their price target on shares of JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird increased their price target on shares of JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Barclays reduced their price target on shares of JFrog from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 price target on shares of JFrog in a report on Wednesday. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.44.

JFrog Trading Up 9.6 %

NASDAQ FROG opened at $41.35 on Friday. The company has a fifty day simple moving average of $32.62 and a 200 day simple moving average of $30.70. The company has a market cap of $4.21 billion, a P/E ratio of -78.97 and a beta of 0.97. JFrog has a 1 year low of $22.91 and a 1 year high of $48.81.

JFrog (NASDAQ:FROG) last posted 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%. Equities research analysts forecast that JFrog will post -0.32 EPS for the current fiscal year.

Insider Activity

In other JFrog news, Director Yossi Sela sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $31.86, for a total value of $796,500.00. Following the completion of the sale, the director now owns 355,129 shares in the company, valued at approximately $11,314,409.94. This trade represents a 6.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ben Haim Shlomi sold 20,443 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $30.60, for a total transaction of $625,555.80. Following the completion of the sale, the chief executive officer now owns 4,937,011 shares of the company’s stock, valued at $151,072,536.60. The trade was a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 411,685 shares of company stock worth $13,720,965. 15.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in JFrog by 4.1% during the 4th 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 period. TimesSquare Capital Management LLC raised its holdings in JFrog by 12.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock valued at $100,002,000 after buying an additional 365,376 shares during the last quarter. North Peak Capital Management LLC acquired a new stake in shares of JFrog during the 3rd quarter worth approximately $73,417,000. Champlain Investment Partners LLC grew its position in JFrog by 48.4% in the 4th quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock valued at $71,961,000 after purchasing an additional 797,949 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in JFrog by 33.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock valued at $68,969,000 after acquiring an additional 593,478 shares in the last quarter. Institutional investors own 85.02% of the company’s stock.

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.