JFrog (NASDAQ:FROG) Given New $39.00 Price Target at Needham & Company LLC

JFrog (NASDAQ:FROG) had its price target upped by Needham & Company LLC from $36.00 to $39.00 in a research report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. DA Davidson restated a “buy” rating and issued a $40.00 price target on shares of JFrog in a research note on Monday, October 14th. Robert W. Baird increased their price target on shares of JFrog from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. UBS Group boosted their price objective on JFrog from $30.00 to $38.00 and gave the company a “buy” rating in a report on Friday, November 8th. Scotiabank increased their target price on JFrog from $25.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, Barclays dropped their price target on JFrog from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.89.

JFrog Trading Up 1.1 %

FROG opened at $34.30 on Wednesday. JFrog has a twelve month low of $22.91 and a twelve month high of $48.81. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -64.72 and a beta of 0.95. The company has a fifty day simple moving average of $31.08 and a 200 day simple moving average of $30.79.

JFrog (NASDAQ:FROG) last announced its earnings results on Thursday, November 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.24). JFrog had a negative net margin of 13.98% and a negative return on equity of 5.36%. The business had revenue of $109.06 million for the quarter, compared to analyst estimates of $105.54 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. On average, analysts forecast that JFrog will post -0.32 earnings per share for the current fiscal year.

Insider Activity at JFrog

In related news, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $30.86, for a total transaction of $1,080,100.00. Following the completion of the sale, the director now directly owns 4,514,432 shares of the company’s stock, valued at $139,315,371.52. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eduard Grabscheid sold 834 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $30.60, for a total value of $25,520.40. Following the sale, the chief financial officer now owns 97,260 shares of the company’s stock, valued at $2,976,156. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,146 shares of company stock worth $8,544,054 over the last ninety days. 15.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JFrog

Institutional investors and hedge funds have recently modified their holdings of the stock. TimesSquare Capital Management LLC increased its position in shares of JFrog by 114.1% in the third quarter. TimesSquare Capital Management LLC now owns 3,034,900 shares of the company’s stock worth $88,133,000 after acquiring an additional 1,617,551 shares in the last quarter. North Peak Capital Management LLC acquired a new position in JFrog in the 3rd quarter worth approximately $73,417,000. Thrivent Financial for Lutherans grew its position in JFrog by 33.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,374,972 shares of the company’s stock worth $68,969,000 after purchasing an additional 593,478 shares in the last quarter. Wasatch Advisors LP raised its stake in JFrog by 6.2% during the 3rd quarter. Wasatch Advisors LP now owns 2,140,884 shares of the company’s stock valued at $62,171,000 after purchasing an additional 124,420 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of JFrog by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,668,161 shares of the company’s stock valued at $62,636,000 after purchasing an additional 41,275 shares in the last quarter. 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.