JFrog (NASDAQ:FROG) Given New $120.00 Price Target at JPMorgan Chase & Co.

JFrog (NASDAQ:FROG) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $115.00 to $120.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 18.84% from the stock’s previous close.

A number of other research firms have also commented on FROG. Wall Street Zen lowered shares of JFrog from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Piper Sandler raised their price objective on JFrog from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday. Canaccord Genuity Group lifted their target price on JFrog from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $115.00 price objective on shares of JFrog in a research report on Wednesday, November 4th. Finally, Truist Financial raised their price target on JFrog from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday. Twenty-one analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $112.43.

JFrog Price Performance

Shares of FROG opened at $100.98 on Friday. The firm’s 50 day moving average is $93.42 and its 200-day moving average is $72.58. The stock has a market capitalization of $12.45 billion, a P/E ratio of -561.00 and a beta of 1.31. JFrog has a 12-month low of $34.05 and a 12-month high of $105.76.

JFrog (NASDAQ:FROG) last released its earnings results on Thursday, November 5th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. The business had revenue of $179.17 million during the quarter, compared to analyst estimates of $165.92 million. JFrog had a negative net margin of 3.29% and a negative return on equity of 1.58%. The business’s quarterly revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, equities research analysts forecast that JFrog will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Tali Notman sold 18,794 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $86.98, for a total value of $1,634,702.12. Following the completion of the transaction, the executive directly owned 668,678 shares in the company, valued at approximately $58,161,612.44. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Shlomi Ben Haim sold 15,000 shares of the stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $97.52, for a total transaction of $1,462,800.00. Following the completion of the transaction, the chief executive officer owned 4,434,305 shares of the company’s stock, valued at approximately $432,433,423.60. This represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 900,453 shares of company stock worth $85,299,266. 11.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FROG. Diversified Trust Co bought a new position in JFrog in the 3rd quarter valued at $1,734,000. Russell Investments Group Ltd. grew its holdings in shares of JFrog by 160.0% during the third quarter. Russell Investments Group Ltd. now owns 354,869 shares of the company’s stock worth $34,437,000 after purchasing an additional 218,368 shares during the last quarter. Pier 88 Investment Partners LLC bought a new stake in shares of JFrog during the third quarter worth $543,000. Illinois Municipal Retirement Fund bought a new stake in shares of JFrog during the third quarter worth $3,000,000. Finally, Knights of Columbus Asset Advisors LLC increased its stake in shares of JFrog by 22.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 27,865 shares of the company’s stock valued at $2,704,000 after buying an additional 5,088 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

About JFrog

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment.

Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues.