Robert W. Baird Issues Positive Forecast for JFrog (NASDAQ:FROG) Stock Price

JFrog (NASDAQ:FROG) had its target price raised by stock analysts at Robert W. Baird from $32.00 to $36.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 9.56% from the stock’s current price.

Other analysts have also issued reports about the stock. Morgan Stanley cut their target price on shares of JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Baird R W upgraded shares of JFrog to a “strong-buy” rating in a report on Tuesday, August 27th. Stifel Nicolaus reduced their price objective on shares of JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective on shares of JFrog in a research report on Monday, September 16th. Finally, Canaccord Genuity Group dropped their target price on JFrog from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

JFrog Trading Up 3.6 %

JFrog stock opened at $32.86 on Friday. The firm has a market capitalization of $3.35 billion, a P/E ratio of -73.02 and a beta of 0.93. The stock’s fifty day simple moving average is $28.97 and its 200-day simple moving average is $32.44. JFrog has a twelve month low of $22.91 and a twelve month high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $103.04 million for the quarter, compared to analysts’ expectations of $103.53 million. JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. Sell-side analysts predict that JFrog will post -0.28 earnings per share for the current year.

Insider Activity

In other news, CEO Ben Haim Shlomi sold 35,550 shares of JFrog stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total value of $1,066,500.00. Following the transaction, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at $149,256,870. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CRO Tali Notman sold 10,699 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $28.29, for a total value of $302,674.71. Following the completion of the sale, the executive now directly owns 536,714 shares of the company’s stock, valued at approximately $15,183,639.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ben Haim Shlomi sold 35,550 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,031 shares of company stock valued at $3,618,247. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of JFrog

A number of hedge funds have recently added to or reduced their stakes in FROG. Mackenzie Financial Corp grew its stake in shares of JFrog by 7.0% in the 2nd quarter. Mackenzie Financial Corp now owns 5,841 shares of the company’s stock valued at $219,000 after purchasing an additional 384 shares during the last quarter. George Kaiser Family Foundation lifted its holdings in shares of JFrog by 0.7% during the second quarter. George Kaiser Family Foundation now owns 75,037 shares of the company’s stock worth $2,818,000 after purchasing an additional 532 shares during the period. Van ECK Associates Corp grew its position in JFrog by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 37,229 shares of the company’s stock valued at $1,093,000 after buying an additional 577 shares during the last quarter. Advisors Asset Management Inc. increased its stake in JFrog by 33.9% in the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after buying an additional 662 shares during the period. Finally, US Bancorp DE raised its position in JFrog by 13.6% during the 3rd quarter. US Bancorp DE now owns 6,687 shares of the company’s stock worth $194,000 after buying an additional 798 shares during the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

JFrog Company Profile

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.