JFrog (NASDAQ:FROG) Upgraded to “Moderate Buy” at Raymond James

Raymond James upgraded shares of JFrog (NASDAQ:FROG) to a moderate buy rating in a report released on Thursday morning,Zacks.com reports.

FROG has been the subject of a number of other research reports. KeyCorp restated an “overweight” rating and set a $46.00 price objective (up previously from $36.00) on shares of JFrog in a report on Friday, February 14th. Stifel Nicolaus upped their price target on shares of JFrog from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Canaccord Genuity Group lifted their price objective on shares of JFrog from $38.00 to $45.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC boosted their price objective on shares of JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Barclays raised their target price on shares of JFrog from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Three 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 data from MarketBeat, JFrog presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

JFrog Trading Up 2.0 %

JFrog stock opened at $31.01 on Thursday. JFrog has a 12-month low of $22.91 and a 12-month high of $43.00. The firm has a 50-day moving average price of $34.59 and a 200-day moving average price of $32.28. The firm has a market capitalization of $3.55 billion, a PE ratio of -49.22 and a beta of 0.98.

JFrog (NASDAQ:FROG) last announced 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 6.42% and a negative net margin of 16.16%. The firm had revenue of $116.08 million during the quarter, compared to the consensus estimate of $114.16 million. As a group, sell-side analysts predict that JFrog will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at JFrog

In other news, CEO Ben Haim Shlomi sold 17,775 shares of JFrog stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $30.04, for a total value of $533,961.00. Following the transaction, the chief executive officer now owns 4,929,755 shares of the company’s stock, valued at $148,089,840.20. The trade was a 0.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $31.78, for a total transaction of $1,112,300.00. Following the sale, the director now directly owns 4,444,432 shares of the company’s stock, valued at $141,244,048.96. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 444,104 shares of company stock valued at $15,587,729. Corporate insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FROG. JPMorgan Chase & Co. grew its position in JFrog by 5.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,589,284 shares of the company’s stock worth $46,741,000 after purchasing an additional 80,432 shares during the last quarter. abrdn plc increased its position in shares of JFrog by 4.1% in the 4th quarter. abrdn plc now owns 772,202 shares of the company’s stock valued at $22,784,000 after acquiring an additional 30,392 shares during the period. Vanguard Group Inc. raised its stake in JFrog by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company’s stock worth $259,882,000 after acquiring an additional 349,532 shares during the last quarter. Peregrine Capital Management LLC lifted its position in JFrog by 11.9% during the 4th quarter. Peregrine Capital Management LLC now owns 327,835 shares of the company’s stock worth $9,642,000 after acquiring an additional 34,900 shares during the period. Finally, TimesSquare Capital Management LLC grew its stake in JFrog by 12.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock valued at $100,002,000 after purchasing an additional 365,376 shares during the last quarter. 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.