JFrog (NASDAQ:FROG) Given New $55.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has raised its price target for JFrog's stock from $46.00 to $55.00, indicating a potential upside of 33.32% from its previous close, with an "overweight" rating on the stock.
• JFrog reported a 23.5% increase in quarterly revenue year-over-year, with earnings per share beating analyst expectations.
• Insider selling was noted, with CEO Ben Haim Shlomi selling over 54,000 shares recently, while hedge funds significantly increased their positions in the company.

JFrog (NASDAQ:FROG - Get Free Report) had its price objective raised by analysts at Cantor Fitzgerald from $46.00 to $55.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target suggests a potential upside of 33.95% from the stock's previous close.

Several other equities analysts have also issued reports on FROG. Barclays boosted their price objective on JFrog from $45.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday. Morgan Stanley boosted their target price on JFrog from $39.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Piper Sandler reiterated a "neutral" rating and set a $48.00 price objective (up previously from $40.00) on shares of JFrog in a research note on Friday. Needham & Company LLC restated a "buy" rating and issued a $55.00 price target (up previously from $46.00) on shares of JFrog in a research note on Friday. Finally, Wall Street Zen upgraded JFrog from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.87.

JFrog Stock Performance

NASDAQ:FROG traded down $1.10 on Friday, hitting $41.06. 1,774,376 shares of the stock were exchanged, compared to its average volume of 1,093,863. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of -53.32 and a beta of 1.06. JFrog has a 52 week low of $25.78 and a 52 week high of $46.64. The company's 50-day moving average price is $42.08 and its 200 day moving average price is $37.96.

JFrog (NASDAQ:FROG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $127.20 million during the quarter, compared to analysts' expectations of $122.80 million. JFrog had a negative return on equity of 7.66% and a negative net margin of 18.18%. The company's quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. As a group, equities research analysts predict that JFrog will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ben Haim Shlomi sold 15,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $41.75, for a total value of $626,250.00. Following the sale, the chief executive officer directly owned 4,981,412 shares of the company's stock, valued at $207,973,951. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederic Simon sold 35,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $41.71, for a total value of $1,459,850.00. Following the completion of the sale, the director directly owned 4,239,903 shares in the company, valued at $176,846,354.13. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,338 shares of company stock valued at $13,154,150. 14.10% of the stock is owned by corporate insiders.

Institutional Trading of JFrog

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of JFrog during the fourth quarter valued at about $212,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of JFrog by 19.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 185,552 shares of the company's stock valued at $5,457,000 after purchasing an additional 30,035 shares in the last quarter. IVC Wealth Advisors LLC acquired a new stake in shares of JFrog during the first quarter valued at about $220,000. Bank of Montreal Can acquired a new stake in shares of JFrog during the fourth quarter valued at about $405,000. Finally, Malaga Cove Capital LLC acquired a new stake in shares of JFrog during the first quarter valued at about $413,000. 85.02% of the stock is owned by institutional investors and hedge funds.

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.