JFrog Ltd. (NASDAQ:FROG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of JFrog Ltd. (NASDAQ:FROG) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $42.73.

A number of research analysts recently commented on FROG shares. Scotiabank lowered their price target on shares of JFrog from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Friday, May 10th. Oppenheimer raised their price objective on shares of JFrog from $41.00 to $48.00 in a research note on Thursday, March 7th. KeyCorp decreased their price objective on shares of JFrog from $52.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Cantor Fitzgerald raised their price objective on shares of JFrog from $40.00 to $45.00 in a research note on Thursday, March 7th. Finally, FBN Securities began coverage on shares of JFrog in a research note on Wednesday, May 22nd. They issued an “outperform” rating and a $45.00 price objective for the company.

Insider Activity at JFrog

In related news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the transaction, the chief executive officer now directly owns 5,048,099 shares of the company’s stock, valued at $163,154,559.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other JFrog news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction on Friday, June 7th. The shares were sold at an average price of $32.32, for a total value of $1,860,016.00. Following the transaction, the chief executive officer now directly owns 5,048,099 shares of the company’s stock, valued at $163,154,559.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $42.59, for a total transaction of $1,490,650.00. Following the completion of the transaction, the director now directly owns 4,689,432 shares in the company, valued at $199,722,908.88. The disclosure for this sale can be found here. Insiders have sold a total of 238,650 shares of company stock valued at $8,650,343 over the last ninety days. 15.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On JFrog

Several institutional investors and hedge funds have recently bought and sold shares of FROG. 1832 Asset Management L.P. grew its holdings in JFrog by 285.1% in the first quarter. 1832 Asset Management L.P. now owns 1,422,100 shares of the company’s stock worth $62,885,000 after purchasing an additional 1,052,800 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of JFrog during the first quarter worth $35,520,000. Vanguard Group Inc. lifted its stake in shares of JFrog by 10.7% during the third quarter. Vanguard Group Inc. now owns 7,032,489 shares of the company’s stock worth $178,344,000 after buying an additional 679,007 shares during the period. Syon Capital LLC acquired a new stake in shares of JFrog during the fourth quarter worth $22,086,000. Finally, Norges Bank acquired a new stake in shares of JFrog during the fourth quarter worth $16,661,000. 85.02% of the stock is owned by hedge funds and other institutional investors.

JFrog Stock Performance

Shares of FROG stock opened at $32.79 on Thursday. JFrog has a 52-week low of $21.38 and a 52-week high of $48.81. The firm has a market capitalization of $3.34 billion, a PE ratio of -69.77 and a beta of 0.93. The stock has a fifty day simple moving average of $37.01 and a two-hundred day simple moving average of $36.73.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $100.31 million during the quarter, compared to analyst estimates of $98.63 million. JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. On average, sell-side analysts forecast that JFrog will post -0.21 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.