JFrog (NASDAQ:FROG) Given New $42.00 Price Target at Barclays

JFrog (NASDAQ:FROG) had its target price trimmed by Barclays from $48.00 to $42.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also commented on the company. Truist Financial boosted their price objective on JFrog from $35.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Scotiabank cut their price target on shares of JFrog from $40.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Morgan Stanley decreased their price target on shares of JFrog from $44.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. DA Davidson dropped their price objective on shares of JFrog from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $46.00 target price on shares of JFrog in a research note on Monday, May 5th. Three research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.65.

JFrog Trading Up 9.8 %

Shares of NASDAQ:FROG opened at $38.71 on Friday. The company has a 50 day moving average of $32.81 and a 200 day moving average of $32.77. The stock has a market cap of $4.43 billion, a P/E ratio of -61.44 and a beta of 0.97. JFrog has a 12 month low of $22.91 and a 12 month high of $43.00.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. JFrog had a negative net margin of 16.16% and a negative return on equity of 6.42%. The firm had revenue of $122.41 million for the quarter, compared to analysts’ expectations of $117.44 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was up 22.0% on a year-over-year basis. On average, equities analysts forecast that JFrog will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In other JFrog news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $35.92, for a total value of $1,257,200.00. Following the transaction, the director now owns 4,409,432 shares in the company, valued at approximately $158,386,797.44. The trade was a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ben Haim Shlomi sold 41,829 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $36.55, for a total transaction of $1,528,849.95. Following the sale, the chief executive officer now owns 4,982,254 shares of the company’s stock, valued at approximately $182,101,383.70. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 298,542 shares of company stock valued at $10,443,488. 14.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FROG. Principal Financial Group Inc. increased its stake in shares of JFrog by 55.8% during the third quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock valued at $41,757,000 after buying an additional 514,895 shares during the period. Diversified Trust Co boosted its holdings in JFrog by 74.0% in the fourth quarter. Diversified Trust Co now owns 27,962 shares of the company’s stock valued at $822,000 after acquiring an additional 11,890 shares in the last quarter. Park Avenue Securities LLC purchased a new position in JFrog during the 4th quarter valued at $204,000. SG Americas Securities LLC bought a new position in JFrog in the 4th quarter worth $193,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of JFrog by 10.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 90,262 shares of the company’s stock worth $2,655,000 after purchasing an additional 8,426 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.

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.