Needham & Company LLC Reaffirms Buy Rating for JFrog (NASDAQ:FROG)

JFrog (NASDAQ:FROG)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Monday, Benzinga reports. They presently have a $33.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 17.90% from the stock’s current price.

FROG has been the topic of several other reports. FBN Securities initiated coverage on JFrog in a research note on Wednesday, May 22nd. They set an “outperform” rating and a $45.00 price objective on the stock. Stifel Nicolaus reduced their price objective on JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. DA Davidson restated a “buy” rating and set a $40.00 target price on shares of JFrog in a research report on Wednesday, September 11th. Barclays dropped their target price on JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, KeyCorp boosted their target price on JFrog from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.28.

JFrog Trading Up 0.3 %

Shares of FROG stock opened at $27.99 on Monday. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The stock’s 50-day moving average price is $31.57 and its 200-day moving average price is $35.83. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -59.55 and a beta of 0.93.

JFrog (NASDAQ:FROG) last issued its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. The firm had revenue of $103.04 million during the quarter, compared to the consensus estimate of $103.53 million. As a group, research analysts predict that JFrog will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ben Haim Shlomi sold 20,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the transaction, the chief executive officer now owns 5,027,493 shares of the company’s stock, valued at $136,043,960.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the transaction, the director now directly owns 4,549,432 shares of the company’s stock, valued at $176,290,490. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.06, for a total value of $557,598.36. Following the transaction, the chief executive officer now directly owns 5,027,493 shares in the company, valued at $136,043,960.58. The disclosure for this sale can be found here. Insiders sold 203,040 shares of company stock valued at $6,818,795 over the last 90 days. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

Large investors have recently made changes to their positions in the business. Frazier Financial Advisors LLC acquired a new position in shares of JFrog during the fourth quarter worth $35,000. Future Financial Wealth Managment LLC acquired a new position in shares of JFrog during the first quarter worth $44,000. Advisors Asset Management Inc. increased its position in shares of JFrog by 33.9% during the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after purchasing an additional 662 shares in the last quarter. RiverPark Advisors LLC acquired a new position in shares of JFrog in the 1st quarter valued at $140,000. Finally, Duality Advisers LP purchased a new position in JFrog in the 1st quarter worth $205,000. 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.