Cantor Fitzgerald Initiates Coverage on JFrog (NASDAQ:FROG)

Equities researchers at Cantor Fitzgerald initiated coverage on shares of JFrog (NASDAQ:FROGGet Rating) in a note issued to investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the stock.

Other equities analysts also recently issued reports about the company. Bank of America upgraded JFrog from a “neutral” rating to a “buy” rating and lifted their target price for the company from $28.00 to $32.00 in a research note on Wednesday, January 4th. Truist Financial initiated coverage on JFrog in a report on Friday, September 30th. They issued a “buy” rating and a $30.00 price target on the stock. Morgan Stanley dropped their price target on JFrog from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, October 20th. Needham & Company LLC lowered their price objective on shares of JFrog from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of JFrog from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

JFrog Price Performance

NASDAQ:FROG traded up $0.21 during trading hours on Wednesday, reaching $25.22. 486,208 shares of the company traded hands, compared to its average volume of 567,538. JFrog has a 1-year low of $16.36 and a 1-year high of $28.18. The firm’s 50-day moving average is $22.18 and its 200-day moving average is $22.45. The stock has a market cap of $2.46 billion, a P/E ratio of -27.71 and a beta of 0.33.

JFrog (NASDAQ:FROGGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). JFrog had a negative net margin of 34.15% and a negative return on equity of 10.12%. The company had revenue of $71.99 million during the quarter, compared to analysts’ expectations of $71.08 million. As a group, research analysts predict that JFrog will post -0.62 earnings per share for the current year.

Insider Activity

In other news, CFO Yakov (Jacob) Shulman sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $23.49, for a total transaction of $140,940.00. Following the completion of the sale, the chief financial officer now owns 292,609 shares in the company, valued at approximately $6,873,385.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO Yoav Landman sold 29,800 shares of JFrog stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $25.00, for a total transaction of $745,000.00. Following the sale, the chief technology officer now directly owns 7,336,542 shares of the company’s stock, valued at approximately $183,413,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Yakov (Jacob) Shulman sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $23.49, for a total transaction of $140,940.00. Following the sale, the chief financial officer now directly owns 292,609 shares in the company, valued at $6,873,385.41. The disclosure for this sale can be found here. Insiders sold a total of 287,076 shares of company stock valued at $6,548,984 in the last quarter. Company insiders own 33.70% of the company’s stock.

Institutional Investors Weigh In On JFrog

A number of institutional investors have recently modified their holdings of FROG. Lazard Asset Management LLC raised its holdings in JFrog by 98.6% during the second quarter. Lazard Asset Management LLC now owns 2,224 shares of the company’s stock worth $46,000 after buying an additional 1,104 shares during the last quarter. FNY Investment Advisers LLC raised its stake in JFrog by 363.6% in the fourth quarter. FNY Investment Advisers LLC now owns 2,550 shares of the company’s stock valued at $54,000 after purchasing an additional 2,000 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in JFrog in the second quarter valued at approximately $57,000. Assetmark Inc. purchased a new position in shares of JFrog during the second quarter worth approximately $60,000. Finally, US Bancorp DE raised its stake in shares of JFrog by 2,303.3% during the first quarter. US Bancorp DE now owns 2,211 shares of the company’s stock worth $60,000 after acquiring an additional 2,119 shares in the last quarter. 53.34% of the stock is owned by institutional investors.

About JFrog

(Get Rating)

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 scan JFrog Artifactory; and JFrog Distribution that provides software package distribution with enterprise-grade performance.

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