JFrog (NASDAQ:FROG) Receives “Overweight” Rating from KeyCorp

JFrog (NASDAQ:FROG)‘s stock had its “overweight” rating reiterated by stock analysts at KeyCorp in a research note issued to investors on Friday,Benzinga reports. They presently have a $46.00 target price on the stock, up from their previous target price of $36.00. KeyCorp’s price objective would suggest a potential upside of 15.57% from the stock’s current price.

Several other analysts also recently issued reports on FROG. Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 price target on shares of JFrog in a report on Wednesday. Barclays raised their price target on JFrog from $38.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday. Canaccord Genuity Group raised their price target on JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC lifted their target price on JFrog from $39.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Finally, Robert W. Baird lifted their target price on JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.17.

JFrog Trading Up 5.6 %

NASDAQ FROG traded up $2.09 during mid-day trading on Friday, reaching $39.80. 2,894,229 shares of the company’s stock traded hands, compared to its average volume of 1,066,976. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -75.10 and a beta of 0.97. The company has a fifty day simple moving average of $32.62 and a 200-day simple moving average of $30.70. JFrog has a 1-year low of $22.91 and a 1-year high of $48.81.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.28). JFrog had a negative return on equity of 5.36% and a negative net margin of 13.98%. Equities research analysts forecast that JFrog will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Tali Notman sold 75,635 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $35.00, for a total transaction of $2,647,225.00. Following the completion of the transaction, the executive now owns 582,394 shares of the company’s stock, valued at approximately $20,383,790. The trade was a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ben Haim Shlomi sold 20,443 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $30.60, for a total value of $625,555.80. Following the transaction, the chief executive officer now directly owns 4,937,011 shares of the company’s stock, valued at $151,072,536.60. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,685 shares of company stock valued at $13,720,965 over the last quarter. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in JFrog by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 8,836,526 shares of the company’s stock valued at $259,882,000 after acquiring an additional 349,532 shares during the period. TimesSquare Capital Management LLC grew its stake in shares of JFrog by 12.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 3,400,276 shares of the company’s stock valued at $100,002,000 after purchasing an additional 365,376 shares during the period. North Peak Capital Management LLC bought a new stake in JFrog during the 3rd quarter worth approximately $73,417,000. Champlain Investment Partners LLC grew its position in JFrog by 48.4% during the 4th quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock worth $71,961,000 after acquiring an additional 797,949 shares during the last quarter. Finally, 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 acquiring an additional 593,478 shares during the last quarter. 85.02% of the stock is currently owned by institutional investors.

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.