JFrog (NASDAQ:FROG) Given New $39.00 Price Target at Morgan Stanley

JFrog (NASDAQ:FROG) had its price objective cut by Morgan Stanley from $44.00 to $39.00 in a research report report published on Wednesday morning, Marketbeat reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the company. KeyCorp reiterated an “overweight” rating and set a $46.00 target price (up previously from $36.00) on shares of JFrog in a research report on Friday, February 14th. Raymond James assumed coverage on JFrog in a report on Friday, April 11th. They set an “outperform” rating and a $40.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 target price on shares of JFrog in a report on Wednesday, February 12th. Canaccord Genuity Group boosted their target price on shares of JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, DA Davidson cut their price target on shares of JFrog from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, JFrog currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.71.

JFrog Price Performance

Shares of NASDAQ FROG opened at $31.80 on Wednesday. The stock has a fifty day moving average price of $34.33 and a 200 day moving average price of $32.31. JFrog has a 1-year low of $22.91 and a 1-year high of $43.00. The company has a market cap of $3.64 billion, a PE ratio of -50.48 and a beta of 0.98.

JFrog (NASDAQ:FROG) last released its earnings results on Thursday, February 13th. The company reported ($0.14) 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 analyst estimates of $114.16 million. Analysts anticipate that JFrog will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JFrog news, CEO Ben Haim Shlomi sold 17,775 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $36.73, for a total transaction of $652,875.75. Following the completion of the transaction, the chief executive officer now owns 4,866,809 shares of the company’s stock, valued at approximately $178,757,894.57. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Eduard Grabscheid sold 2,152 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $35.00, for a total value of $75,320.00. Following the completion of the transaction, the chief financial officer now directly owns 93,597 shares of the company’s stock, valued at approximately $3,275,895. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 429,104 shares of company stock worth $15,084,429 in the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

Several hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of JFrog during the fourth quarter valued at approximately $32,878,000. Raymond James Financial Inc. acquired a new position in JFrog in the 4th quarter valued at $30,554,000. Mackenzie Financial Corp lifted its stake in shares of JFrog by 93.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company’s stock worth $58,703,000 after purchasing an additional 965,912 shares during the period. Champlain Investment Partners LLC boosted its holdings in shares of JFrog by 48.4% during the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock worth $71,961,000 after purchasing an additional 797,949 shares during the last quarter. Finally, Bamco Inc. NY purchased a new stake in shares of JFrog in the fourth quarter valued at $21,322,000. 85.02% of the stock is owned by institutional investors and hedge funds.

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.