KeyCorp Issues Positive Forecast for JFrog (NASDAQ:FROG) Stock Price

Key Points

• KeyCorp has raised its price target for JFrog from $46.00 to $52.00, suggesting a potential upside of 20.38% from the stock's current price, while maintaining an "overweight" rating.
• JFrog reported $0.18** earnings per share (EPS)**, beating analysts' consensus estimate of $0.16, and achieving a revenue of $127.20 million during the last quarter, reflecting a 23.5% year-over-year increase.
• Insiders sold a total of 258,338 shares worth $11,050,150 in the last quarter, indicating potential selling pressure amid strong stock ratings from analysts, with a consensus rating of "Moderate Buy."

JFrog (NASDAQ:FROG - Get Free Report) had its price objective increased by investment analysts at KeyCorp from $46.00 to $52.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's target price would indicate a potential upside of 19.21% from the company's previous close.

Other analysts have also issued research reports about the company. Raymond James Financial set a $50.00 price objective on JFrog and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded JFrog from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. DA Davidson upped their price objective on JFrog from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $46.00 target price on shares of JFrog in a research note on Monday, May 5th. Finally, Barclays reiterated an "overweight" rating and set a $45.00 target price (up previously from $42.00) on shares of JFrog in a research note on Monday, July 21st. Two 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $46.87.

JFrog Trading Up 12.5%

NASDAQ:FROG traded up $4.83 on Friday, hitting $43.62. The company's stock had a trading volume of 4,878,951 shares, compared to its average volume of 1,052,787. The stock has a fifty day moving average of $42.13 and a two-hundred day moving average of $37.89. The firm has a market capitalization of $5.00 billion, a P/E ratio of -56.65 and a beta of 1.06. JFrog has a one year low of $24.13 and a one year high of $46.64.

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

Insider Activity

In other JFrog news, Director Frederic Simon sold 35,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $41.71, for a total transaction of $1,459,850.00. Following the transaction, the director owned 4,239,903 shares in the company, valued at $176,846,354.13. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Tali Notman sold 23,157 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $43.16, for a total value of $999,456.12. Following the transaction, the executive owned 686,360 shares in the company, valued at approximately $29,623,297.60. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,338 shares of company stock worth $11,050,150. 14.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JFrog

A number of hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its stake in JFrog by 15.6% during the 2nd quarter. Cetera Investment Advisers now owns 25,739 shares of the company's stock worth $1,129,000 after acquiring an additional 3,478 shares during the period. SG Americas Securities LLC increased its stake in shares of JFrog by 231.7% in the 2nd quarter. SG Americas Securities LLC now owns 20,629 shares of the company's stock valued at $905,000 after purchasing an additional 14,410 shares during the last quarter. Calamos Advisors LLC bought a new position in shares of JFrog in the 2nd quarter valued at $535,000. Geode Capital Management LLC raised its holdings in shares of JFrog by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 144,152 shares of the company's stock worth $6,319,000 after buying an additional 2,160 shares in the last quarter. Finally, Lisanti Capital Growth LLC lifted its position in shares of JFrog by 10.2% during the 2nd quarter. Lisanti Capital Growth LLC now owns 110,195 shares of the company's stock worth $4,835,000 after buying an additional 10,230 shares during the last quarter. 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.