JFrog (NASDAQ:FROG) Receives New Coverage from Analysts at TD Cowen

TD Cowen started coverage on shares of JFrog (NASDAQ:FROG) in a research report report published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $50.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. FBN Securities initiated coverage on shares of JFrog in a research report on Wednesday, May 22nd. They set an outperform rating and a $45.00 target price for the company. UBS Group began coverage on shares of JFrog in a research note on Wednesday, May 22nd. They issued a buy rating and a $41.00 target price for the company. Scotiabank decreased their price target on JFrog from $45.00 to $40.00 and set a sector perform rating on the stock in a research report on Friday, May 10th. KeyCorp cut their price objective on JFrog from $52.00 to $46.00 and set an overweight rating for the company in a research report on Friday, May 10th. Finally, Barclays started coverage on JFrog in a report on Wednesday, June 26th. They set an overweight rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $45.07.

JFrog Stock Up 3.3 %

Shares of FROG opened at $39.51 on Wednesday. The company has a 50-day moving average price of $34.82 and a two-hundred day moving average price of $37.76. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -84.06 and a beta of 0.96. JFrog has a 12 month low of $21.38 and a 12 month high of $48.81.

JFrog (NASDAQ:FROG) last posted its earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. The business had revenue of $100.31 million during the quarter, compared to the consensus estimate of $98.63 million. Equities research analysts expect that JFrog will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling

In other JFrog news, CTO Yoav Landman sold 15,100 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $33.27, for a total value of $502,377.00. Following the transaction, the chief technology officer now directly owns 6,716,271 shares of the company’s stock, valued at $223,450,336.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Ben Haim Shlomi sold 57,550 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the completion of the transaction, the chief executive officer now directly owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Yoav Landman sold 15,100 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $33.27, for a total transaction of $502,377.00. Following the completion of the sale, the chief technology officer now owns 6,716,271 shares in the company, valued at $223,450,336.17. The disclosure for this sale can be found here. Insiders sold a total of 257,207 shares of company stock valued at $8,915,764 over the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. 1832 Asset Management L.P. boosted its position in shares of JFrog by 285.1% during the first quarter. 1832 Asset Management L.P. now owns 1,422,100 shares of the company’s stock worth $62,885,000 after purchasing an additional 1,052,800 shares in the last quarter. Principal Financial Group Inc. bought a new position in JFrog during the first quarter worth about $35,520,000. Vanguard Group Inc. grew its stake in JFrog by 10.7% in the third quarter. Vanguard Group Inc. now owns 7,032,489 shares of the company’s stock valued at $178,344,000 after acquiring an additional 679,007 shares during the period. Syon Capital LLC bought a new stake in shares of JFrog in the fourth quarter worth about $22,086,000. Finally, Bank of New York Mellon Corp raised its position in shares of JFrog by 22.3% during the second quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after purchasing an additional 561,897 shares during the period. Institutional investors and hedge funds own 85.02% of the company’s stock.

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.