JFrog (NASDAQ:FROG) PT Raised to $33.00 at Truist Financial

JFrog (NASDAQ:FROG) had its price objective lifted by equities researchers at Truist Financial from $30.00 to $33.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 11.52% from the stock’s previous close.

FROG has been the subject of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 price target on shares of JFrog in a research report on Wednesday, September 11th. Canaccord Genuity Group reduced their price target 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. Needham & Company LLC restated a “buy” rating and issued a $33.00 target price on shares of JFrog in a report on Monday, September 16th. Scotiabank dropped their target price on shares of JFrog from $40.00 to $25.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Finally, TD Cowen dropped their target price on shares of JFrog from $50.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.44.

JFrog Stock Down 2.5 %

Shares of FROG stock traded down $0.77 during trading hours on Wednesday, hitting $29.59. 96,437 shares of the company’s stock traded hands, compared to its average volume of 1,288,438. The stock’s fifty day simple moving average is $28.24 and its two-hundred day simple moving average is $33.22. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -62.96 and a beta of 0.94.

JFrog (NASDAQ:FROG) last announced its quarterly 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). The firm had revenue of $103.04 million for the quarter, compared to the consensus estimate of $103.53 million. JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. On average, equities analysts forecast that JFrog will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Yoav Landman sold 15,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $30.85, for a total value of $462,750.00. Following the completion of the sale, the chief technology officer now directly owns 6,612,242 shares of the company’s stock, valued at $203,987,665.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Ben Haim Shlomi sold 20,606 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the sale, the chief executive officer now directly owns 5,027,493 shares of the company’s stock, valued at $136,043,960.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Yoav Landman sold 15,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.85, for a total transaction of $462,750.00. Following the completion of the sale, the chief technology officer now directly owns 6,612,242 shares of the company’s stock, valued at approximately $203,987,665.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,031 shares of company stock worth $5,103,847. Company insiders own 15.70% of the company’s stock.

Institutional Trading of JFrog

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Washington Capital Management Inc. purchased a new stake in shares of JFrog in the third quarter worth $421,000. Procyon Advisors LLC boosted its position in shares of JFrog by 116.2% during the third quarter. Procyon Advisors LLC now owns 15,256 shares of the company’s stock worth $443,000 after acquiring an additional 8,200 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of JFrog by 12.9% during the third quarter. Exchange Traded Concepts LLC now owns 81,836 shares of the company’s stock worth $2,377,000 after acquiring an additional 9,368 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of JFrog during the third quarter worth $29,000. Finally, Handelsbanken Fonder AB boosted its position in shares of JFrog by 53.9% during the third quarter. Handelsbanken Fonder AB now owns 23,700 shares of the company’s stock worth $688,000 after acquiring an additional 8,300 shares during the last quarter. 85.02% of the stock is 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.