JFrog (NASDAQ:FROG) Given New $32.00 Price Target at Piper Sandler

JFrog (NASDAQ:FROG) had its target price trimmed by Piper Sandler from $40.00 to $32.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also issued reports on FROG. FBN Securities assumed coverage on JFrog in a report on Wednesday, May 22nd. They set an outperform rating and a $45.00 target price on the stock. KeyCorp cut their price objective on JFrog from $52.00 to $46.00 and set an overweight rating for the company in a report on Friday, May 10th. Canaccord Genuity Group lowered their target price on shares of JFrog from $48.00 to $38.00 and set a buy rating on the stock in a report on Thursday. Morgan Stanley dropped their price target on shares of JFrog from $52.00 to $47.00 and set an overweight rating on the stock in a research report on Friday, May 10th. Finally, TD Cowen started coverage on shares of JFrog in a research report on Wednesday, July 24th. They issued a buy rating and a $50.00 price objective for the company. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $38.00.

JFrog Trading Up 5.9 %

Shares of NASDAQ FROG traded up $1.46 during midday trading on Thursday, reaching $26.14. The company’s stock had a trading volume of 3,102,280 shares, compared to its average volume of 1,272,460. The stock has a 50 day simple moving average of $35.00 and a 200-day simple moving average of $37.79. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -55.62 and a beta of 0.96. JFrog has a fifty-two week low of $21.38 and a fifty-two week high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly 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 net margin of 13.29% and a negative return on equity of 4.62%. The business had revenue of $103.04 million during the quarter, compared to analyst estimates of $103.53 million. As a group, equities analysts anticipate that JFrog will post -0.21 EPS for the current year.

Insider Buying and Selling

In other JFrog news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the completion of the transaction, the chief executive officer now directly owns 5,048,099 shares of the company’s stock, valued at approximately $163,154,559.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Tali Notman sold 30,000 shares of JFrog stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $36.68, for a total value of $1,100,400.00. Following the transaction, the executive now directly owns 559,034 shares of the company’s stock, valued at $20,505,367.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ben Haim Shlomi sold 57,550 shares of the business’s 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 owns 5,048,099 shares of the company’s stock, valued at $163,154,559.68. The disclosure for this sale can be found here. Insiders have sold 272,107 shares of company stock valued at $9,513,787 over the last 90 days. 15.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JFrog

A number of institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd bought a new position in JFrog in the fourth quarter valued at about $2,206,000. Russell Investments Group Ltd. grew its holdings in shares of JFrog by 394.2% during the 1st quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock valued at $1,268,000 after purchasing an additional 22,864 shares during the last quarter. Syon Capital LLC acquired a new position in JFrog during the 4th quarter worth approximately $22,086,000. Thornburg Investment Management Inc. bought a new position in JFrog in the 1st quarter valued at approximately $5,337,000. Finally, Dimensional Fund Advisors LP boosted its position in JFrog by 10.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,575,867 shares of the company’s stock valued at $54,542,000 after buying an additional 145,465 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

JFrog Company Profile

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.