JFrog (NASDAQ:FROG) Shares Gap Up After Analyst Upgrade

Shares of JFrog Ltd. (NASDAQ:FROG) gapped up before the market opened on Friday after Canaccord Genuity Group raised their price target on the stock from $38.00 to $45.00. The stock had previously closed at $37.71, but opened at $43.00. Canaccord Genuity Group currently has a buy rating on the stock. JFrog shares last traded at $40.05, with a volume of 1,285,900 shares traded.

FROG has been the subject of a number of other research reports. Needham & Company LLC increased their target price on shares of JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Friday. UBS Group increased their target price on shares of JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, November 8th. TD Cowen increased their target price on JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 target price on shares of JFrog in a report on Wednesday. Finally, Truist Financial reiterated a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of JFrog in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, JFrog currently has an average rating of “Moderate Buy” and a consensus price target of $39.44.

Insider Activity

In related news, Director Yossi Sela sold 25,000 shares of JFrog stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $31.86, for a total value of $796,500.00. Following the completion of the transaction, the director now owns 355,129 shares in the company, valued at $11,314,409.94. The trade was a 6.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Tali Notman sold 11,529 shares of JFrog stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $30.60, for a total value of $352,787.40. Following the completion of the transaction, the executive now owns 525,185 shares of the company’s stock, valued at approximately $16,070,661. This represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,685 shares of company stock worth $13,720,965. 15.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JFrog

Several institutional investors and hedge funds have recently modified their holdings of FROG. Jones Financial Companies Lllp grew its position in JFrog by 91.1% in the fourth quarter. Jones Financial Companies Lllp now owns 1,204 shares of the company’s stock worth $35,000 after acquiring an additional 574 shares during the period. West Tower Group LLC purchased a new position in shares of JFrog during the third quarter worth about $116,000. KBC Group NV grew its holdings in shares of JFrog by 39.0% during the fourth quarter. KBC Group NV now owns 3,938 shares of the company’s stock worth $116,000 after buying an additional 1,105 shares during the last quarter. BankPlus Trust Department purchased a new stake in JFrog in the 4th quarter valued at approximately $131,000. Finally, Tower Research Capital LLC TRC boosted its holdings in JFrog by 33,106.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,313 shares of the company’s stock valued at $156,000 after purchasing an additional 5,297 shares in the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

JFrog Trading Up 6.2 %

The stock has a fifty day simple moving average of $32.62 and a two-hundred day simple moving average of $30.70. The company has a market cap of $4.08 billion, a PE ratio of -75.66 and a beta of 0.97.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.28). JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. As a group, equities research analysts anticipate that JFrog Ltd. will post -0.32 EPS for the current fiscal year.

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.