JFrog (NASDAQ:FROG) Stock Gets Price Target Boost from JPMorgan Chase & Co.

JFrog (NASDAQ:FROG) had its price target lifted by JPMorgan Chase & Co. from $115.00 to $120.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 18.84% from the stock’s current price.

Several other brokerages also recently weighed in on FROG. Piper Sandler upped their price objective on JFrog from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays reiterated an “overweight” rating and issued a $110.00 target price on shares of JFrog in a research report on Friday, August 7th. UBS Group set a $115.00 target price on JFrog in a research note on Friday, October 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of JFrog in a report on Thursday, October 15th. Finally, Oppenheimer raised their price target on shares of JFrog from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, October 28th. Twenty-one analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.43.

JFrog Price Performance

NASDAQ FROG opened at $100.98 on Friday. The business has a fifty day moving average price of $93.42 and a two-hundred day moving average price of $72.58. JFrog has a fifty-two week low of $34.05 and a fifty-two week high of $105.76. The stock has a market capitalization of $12.45 billion, a PE ratio of -561.00 and a beta of 1.31.

JFrog (NASDAQ:FROG) last issued its earnings results on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. JFrog had a negative return on equity of 1.58% and a negative net margin of 3.29%. The firm had revenue of $179.17 million for the quarter, compared to the consensus estimate of $165.92 million. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue was up 30.9% compared to the same quarter last year. As a group, sell-side analysts expect that JFrog will post -0.11 earnings per share for the current year.

Insider Activity at JFrog

In other news, CRO Tali Notman sold 19,157 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $90.51, for a total value of $1,733,900.07. Following the completion of the transaction, the executive directly owned 687,472 shares in the company, valued at approximately $62,223,090.72. This represents a 2.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Shlomi Ben Haim sold 45,700 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $85.35, for a total value of $3,900,495.00. Following the sale, the chief executive officer directly owned 4,449,305 shares in the company, valued at approximately $379,748,181.75. This trade represents a 1.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 900,453 shares of company stock valued at $85,299,266 over the last three months. 11.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On JFrog

Several large investors have recently bought and sold shares of the company. Allworth Financial LP increased its holdings in JFrog by 83.1% in the second quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $59,000 after purchasing an additional 294 shares during the period. Western Wealth Management LLC acquired a new position in JFrog during the 1st quarter worth about $30,000. Bessemer Group Inc. acquired a new position in JFrog during the 1st quarter worth about $36,000. GK Wealth Management LLC acquired a new position in JFrog during the 3rd quarter worth about $74,000. Finally, GAMMA Investing LLC grew its position in shares of JFrog by 418.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock valued at $97,000 after buying an additional 807 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors.

About JFrog

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment.

Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues.