Stifel Nicolaus Trims JFrog (NASDAQ:FROG) Target Price to $30.00

JFrog (NASDAQ:FROG) had its price target lowered by analysts at Stifel Nicolaus from $45.00 to $30.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 29.53% from the company’s current price.

A number of other equities research analysts also recently weighed in on FROG. Truist Financial dropped their price objective on JFrog from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group decreased their price target on JFrog from $41.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of JFrog in a research note on Tuesday, June 25th. Barclays assumed coverage on JFrog in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $50.00 price target for the company. Finally, Oppenheimer cut JFrog from an “outperform” rating to a “market perform” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.47.

JFrog Stock Performance

FROG stock traded down $10.89 during trading on Thursday, reaching $23.16. 6,876,124 shares of the company traded hands, compared to its average volume of 1,226,678. JFrog has a 12 month low of $21.38 and a 12 month high of $48.81. The business has a 50 day simple moving average of $35.28 and a 200 day simple moving average of $37.94. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -49.47 and a beta of 0.96.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. The company had revenue of $103.04 million for the quarter, compared to the consensus estimate of $103.53 million. As a group, research analysts forecast that JFrog will post -0.21 EPS for the current year.

Insider Transactions 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 stock was sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the completion of the transaction, the chief executive officer now directly owns 5,048,099 shares in the company, valued at $163,154,559.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the completion of the transaction, the chief executive officer now directly owns 5,048,099 shares in the company, valued at $163,154,559.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.70, for a total value of $1,144,500.00. Following the transaction, the director now owns 4,619,432 shares of the company’s stock, valued at $151,055,426.40. The disclosure for this sale can be found here. Insiders sold a total of 287,207 shares of company stock worth $10,016,164 over the last three months. 15.70% of the stock is currently owned by insiders.

Institutional Trading of JFrog

Several institutional investors have recently bought and sold shares of FROG. Arcadia Investment Management Corp MI acquired a new stake in JFrog in the first quarter valued at approximately $26,000. Frazier Financial Advisors LLC acquired a new stake in JFrog in the fourth quarter valued at approximately $35,000. Future Financial Wealth Managment LLC acquired a new stake in JFrog in the first quarter valued at approximately $44,000. Advisors Asset Management Inc. grew its holdings in JFrog by 33.9% in the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after purchasing an additional 662 shares during the period. Finally, RiverPark Advisors LLC acquired a new stake in JFrog in the first quarter valued at approximately $140,000. 85.02% of the stock is owned by institutional investors and hedge funds.

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.