JFrog (NASDAQ:FROG) Price Target Raised to $52.00 at KeyCorp

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 target price raised by research analysts at KeyCorp from $46.00 to $52.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price objective suggests a potential upside of 26.42% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the company. Wall Street Zen upgraded JFrog from a "hold" rating to a "buy" rating in a research note on Sunday, June 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 target price (up from $46.00) on shares of JFrog in a report on Friday. Barclays reissued an "overweight" rating and issued a $45.00 price target (up previously from $42.00) on shares of JFrog in a research note on Monday, July 21st. Morgan Stanley raised their price objective on JFrog from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Scotiabank reduced their price target on JFrog from $40.00 to $36.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.87.

JFrog Trading Down 2.4%

Shares of NASDAQ FROG traded down $1.03 on Friday, reaching $41.13. 1,278,559 shares of the company traded hands, compared to its average volume of 1,090,055. JFrog has a fifty-two week low of $25.78 and a fifty-two week high of $46.64. The stock has a market capitalization of $4.71 billion, a PE ratio of -53.50 and a beta of 1.06. The company has a 50 day moving average of $42.08 and a 200 day moving average of $37.96.

JFrog (NASDAQ:FROG - Get Free Report) last issued 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 company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $122.80 million. JFrog had a negative net margin of 18.18% and a negative return on equity of 7.66%. JFrog's revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share. As a group, research analysts expect that JFrog will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In other news, CRO Tali Notman sold 23,157 shares of the business's stock in a transaction dated 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 directly owned 686,360 shares of the company's stock, valued at $29,623,297.60. The trade was a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ben Haim Shlomi sold 54,279 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $43.07, for a total value of $2,337,796.53. Following the completion of the sale, the chief executive officer directly owned 4,996,412 shares of the company's stock, valued at $215,195,464.84. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 308,338 shares of company stock worth $13,154,150. 14.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On JFrog

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in JFrog by 0.4% during the first quarter. Vanguard Group Inc. now owns 8,871,984 shares of the company's stock valued at $283,903,000 after purchasing an additional 35,458 shares during the period. TimesSquare Capital Management LLC raised its position in shares of JFrog by 6.5% in the first quarter. TimesSquare Capital Management LLC now owns 3,622,911 shares of the company's stock worth $115,933,000 after buying an additional 222,635 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of JFrog by 65.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,630,179 shares of the company's stock worth $84,166,000 after buying an additional 1,037,482 shares in the last quarter. Champlain Investment Partners LLC raised its position in JFrog by 48.4% during the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company's stock valued at $71,961,000 after purchasing an additional 797,949 shares in the last quarter. Finally, Wasatch Advisors LP raised its position in JFrog by 3.3% during the fourth quarter. Wasatch Advisors LP now owns 2,211,088 shares of the company's stock valued at $65,028,000 after purchasing an additional 70,204 shares in the last quarter. 85.02% of the stock is 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.