Truist Financial Increases JFrog (NASDAQ:FROG) Price Target to $33.00

JFrog (NASDAQ:FROG) had its price objective lifted by Truist Financial from $30.00 to $33.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently issued reports on FROG. UBS Group cut their target price on JFrog from $41.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Barclays cut their target price on JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 target price on shares of JFrog in a research report on Wednesday, September 11th. KeyCorp increased their target price on JFrog from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley dropped their price target on JFrog from $47.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.44.

JFrog Stock Down 3.3 %

Shares of FROG opened at $29.36 on Wednesday. The business has a 50-day simple moving average of $28.32 and a two-hundred day simple moving average of $33.13. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -62.47 and a beta of 0.94. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last released its 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). JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. The business had revenue of $103.04 million for the quarter, compared to analysts’ expectations of $103.53 million. On average, equities analysts anticipate that JFrog will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ben Haim Shlomi sold 35,550 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total value of $1,066,500.00. Following the completion of the sale, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at $149,256,870. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CRO Tali Notman sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $36.68, for a total transaction of $1,100,400.00. Following the completion of the sale, the executive now directly owns 559,034 shares of the company’s stock, valued at approximately $20,505,367.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 35,550 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total value of $1,066,500.00. Following the sale, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at $149,256,870. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,031 shares of company stock valued at $5,103,847 in the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mount Yale Investment Advisors LLC bought a new stake in shares of JFrog during the 3rd quarter worth approximately $275,000. Assenagon Asset Management S.A. lifted its stake in shares of JFrog by 54.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 270,137 shares of the company’s stock worth $7,845,000 after acquiring an additional 95,004 shares during the last quarter. Washington Capital Management Inc. purchased a new position in JFrog during the 3rd quarter worth $421,000. Procyon Advisors LLC increased its holdings in JFrog by 116.2% during the 3rd quarter. Procyon Advisors LLC now owns 15,256 shares of the company’s stock worth $443,000 after purchasing an additional 8,200 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in JFrog by 12.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 81,836 shares of the company’s stock worth $2,377,000 after purchasing an additional 9,368 shares during the period. 85.02% of the stock is owned by institutional investors.

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.