JFrog (NASDAQ:FROG) Price Target Raised to $30.00 at Scotiabank

by · The Markets Daily

JFrog (NASDAQ:FROG – Get Free Report) had its target price raised by equities researchers at Scotiabank from $25.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential downside of 4.94% from the company’s previous close.

FROG has been the subject of several other research reports. TD Cowen increased their price objective on shares of JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. DA Davidson reiterated a “buy” rating and set a $40.00 target price on shares of JFrog in a report on Monday, October 14th. Morgan Stanley dropped their price target on JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. UBS Group reduced their price objective on JFrog from $41.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Piper Sandler decreased their price objective on JFrog from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Three 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 MarketBeat.com, JFrog currently has an average rating of “Moderate Buy” and an average price target of $37.39.

Get Our Latest Research Report on FROG

JFrog Stock Down 4.0 %

Shares of FROG traded down $1.30 during trading hours on Friday, reaching $31.56. The stock had a trading volume of 205,577 shares, compared to its average volume of 1,265,554. The company has a market cap of $3.22 billion, a P/E ratio of -71.60 and a beta of 0.93. JFrog has a 52 week low of $22.91 and a 52 week high of $48.81. The firm has a 50-day moving average of $28.97 and a 200 day moving average of $32.44.

JFrog (NASDAQ:FROG – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $103.04 million during the quarter, compared to the consensus estimate of $103.53 million. JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. As a group, equities analysts expect that JFrog will post -0.28 earnings per share for the current year.

Insider Transactions at JFrog

In related news, CTO Yoav Landman sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $28.00, for a total value of $420,000.00. Following the completion of the sale, the chief technology officer now directly owns 6,627,242 shares in the company, valued at approximately $185,562,776. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CRO Tali Notman sold 10,699 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $28.29, for a total transaction of $302,674.71. Following the completion of the sale, the executive now owns 536,714 shares in the company, valued at approximately $15,183,639.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $28.00, for a total value of $420,000.00. Following the completion of the sale, the chief technology officer now owns 6,627,242 shares of the company’s stock, valued at $185,562,776. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,031 shares of company stock worth $3,618,247 in the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

Institutional investors have recently modified their holdings of the business. TimesSquare Capital Management LLC raised its stake in JFrog by 114.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after purchasing an additional 1,617,551 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of JFrog by 285.1% in the first quarter. 1832 Asset Management L.P. now owns 1,422,100 shares of the company’s stock valued at $62,885,000 after buying an additional 1,052,800 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in shares of JFrog by 4,244.7% in the second quarter. Meitav Investment House Ltd. now owns 876,628 shares of the company’s stock valued at $32,903,000 after buying an additional 856,451 shares during the period. American Century Companies Inc. grew its position in JFrog by 172.5% during the second quarter. American Century Companies Inc. now owns 1,330,034 shares of the company’s stock worth $49,943,000 after buying an additional 841,956 shares in the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in JFrog in the 2nd quarter valued at $30,098,000. Institutional investors own 85.02% of the company’s stock.

About JFrog

(Get Free Report)

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.

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