JFrog (NASDAQ:FROG) PT Lowered to $33.00 at Morgan Stanley

JFrog (NASDAQ:FROG) had its target price dropped by equities researchers at Morgan Stanley from $47.00 to $33.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 26.24% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. FBN Securities assumed coverage on JFrog in a report on Wednesday, May 22nd. They issued an “outperform” rating and a $45.00 target price for the company. Canaccord Genuity Group lowered their target price on JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. KeyCorp lowered their target price on JFrog from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Piper Sandler lowered their target price on JFrog from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Scotiabank lowered their target price on JFrog from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

JFrog Stock Performance

Shares of FROG traded up $1.46 during mid-day trading on Thursday, reaching $26.14. 3,122,110 shares of the company were exchanged, compared to its average volume of 1,272,460. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81. The stock has a market capitalization of $2.66 billion, a PE ratio of -55.62 and a beta of 0.96. The business has a 50 day simple moving average of $35.00 and a two-hundred day simple moving average of $37.79.

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

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 stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the chief executive officer now owns 5,048,099 shares of the company’s stock, valued at $163,154,559.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 directly owns 4,619,432 shares in the company, valued at approximately $151,055,426.40. The disclosure for this sale can be found here. Insiders have sold a total of 272,107 shares of company stock valued at $9,513,787 over the last 90 days. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FROG. Arizona State Retirement System lifted its holdings in JFrog by 7.2% during the fourth quarter. Arizona State Retirement System now owns 21,761 shares of the company’s stock worth $753,000 after acquiring an additional 1,455 shares during the period. Asset Management One Co. Ltd. bought a new stake in JFrog during the fourth quarter worth $263,000. International Assets Investment Management LLC bought a new stake in JFrog during the fourth quarter worth $2,983,000. NewEdge Wealth LLC lifted its holdings in JFrog by 32.7% during the fourth quarter. NewEdge Wealth LLC now owns 196,938 shares of the company’s stock worth $6,816,000 after acquiring an additional 48,585 shares during the period. Finally, Cornercap Investment Counsel Inc. lifted its holdings in JFrog by 1.2% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 45,767 shares of the company’s stock worth $1,584,000 after acquiring an additional 535 shares during the period. Hedge funds and other institutional investors own 85.02% of the company’s stock.

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.