Needham & Company LLC Raises JFrog (NASDAQ:FROG) Price Target to $30.00



JFrog (NASDAQ:FROG – Get Rating) had its price target raised by Needham & Company LLC from $23.00 to $30.00 in a report released on Thursday, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the stock. Canaccord Genuity Group initiated coverage on shares of JFrog in a research report on Thursday, July 7th. They issued a buy rating and a $30.00 price objective on the stock. Morgan Stanley upped their objective price on shares of JFrog from $26.00 to $28.00 and gave the company an equal weight rating in a report on Thursday. Canaccord Genuity Group started coverage on shares of JFrog in a research note on Thursday, July 7th. They issued a buy rating and a $30.00 target price for the company. Oppenheimer cut their price target on shares of JFrog from $45.00 to $37.00 in a research note on Tuesday, May 10th. Finally, Stifel Nicolaus lowered their objective price on shares of JFrog from $36.00 to $29.00 in a research note on Tuesday, May 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $29.71.

JFrog Price Performance

Shares of FROG stock opened at $24.68 on Thursday. The company has a market capitalization of $2.40 billion, a P/E ratio of -28.05 and a beta of 0.49. The company’s 50-day simple moving average is $21.21 and its two-hundred day simple moving average is $22.64. JFrog has a one year low of $16.36 and a one year high of $42.33.

JFrog (NASDAQ:FROG – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $63.70 million during the quarter, compared to the consensus estimate of $61.32 million. JFrog had a negative return on equity of 9.55% and a negative net margin of 35.44%. On average, research analysts expect that JFrog will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling at JFrog

In other news, CFO Yakov (Jacob) Shulman sold 6,000 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $17.82, for a total value of $106,920.00. Following the sale, the chief financial officer now owns 320,922 shares in the company, valued at $5,718,830.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Yakov (Jacob) Shulman sold 6,000 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $17.82, for a total value of $106,920.00. Following the completion of the transaction, the chief financial officer now directly owns 320,922 shares in the company, valued at approximately $5,718,830.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 18,875 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $19.04, for a total transaction of $359,380.00. Following the sale, the chief executive officer now directly owns 5,359,402 shares in the company, valued at $102,043,014.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,136 shares of company stock worth $588,703. Company insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors increased its position in shares of JFrog by 1,375.7% in the fourth quarter. Capital Research Global Investors now owns 2,632,599 shares of the company’s stock valued at $78,188,000 after buying an additional 2,454,199 shares in the last quarter. Spark Growth Management Partners II LLC purchased a new stake in JFrog in the 4th quarter worth $62,826,000. Point72 Asset Management LP raised its position in JFrog by 203.8% during the fourth quarter. Point72 Asset Management LP now owns 1,699,443 shares of the company’s stock worth $50,473,000 after acquiring an additional 1,140,000 shares during the period. Grandeur Peak Global Advisors LLC purchased a new position in JFrog during the fourth quarter valued at $25,010,000. Finally, Bank of America Corp DE lifted its holdings in JFrog by 106.1% during the first quarter. Bank of America Corp DE now owns 773,444 shares of the company’s stock valued at $20,844,000 after purchasing an additional 398,144 shares in the last quarter. Hedge funds and other institutional investors own 65.75% of the company’s stock.

JFrog Company Profile

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JFrog Ltd. provides DevOps platform in the United States. The company’s products include JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages at any scale; JFrog Pipelines, an integration/continuous delivery tool for automating and orchestrating the movement of software packages; JFrog Xray, which scans JFrog Artifactory; and JFrog Distribution that provides software package distribution with enterprise-grade performance.

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