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JFrog (NASDAQ:FROG) Sets New 1-Year High on Strong Earnings

JFrog logo with Computer and Technology background

Key Points

  • JFrog Ltd. reached a new 52-week high of $46.64 following a stronger-than-expected quarterly earnings report, posting a 0.18 EPS against an estimated 0.16.
  • Analysts have responded positively, with multiple brokerages raising their price targets for JFrog shares, now averaging $45.81, reflecting increased confidence in the company’s performance.
  • Insider selling was noted, with key figures selling shares totaling over $11 million in the last quarter, while insider ownership remains at 14.10% of the company's stock.
  • Want stock alerts on JFrog? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

JFrog Ltd. (NASDAQ:FROG - Get Free Report) shares reached a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $46.64 and last traded at $43.29, with a volume of 992030 shares trading hands. The stock had previously closed at $38.79.

The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. JFrog had a negative return on equity of 7.66% and a negative net margin of 18.18%. The business had revenue of $127.20 million for the quarter, compared to analyst estimates of $122.80 million. During the same quarter in the prior year, the firm posted $0.15 EPS. The business's quarterly revenue was up 23.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several brokerages recently commented on FROG. Barclays boosted their price target on shares of JFrog from $45.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday. Stifel Nicolaus boosted their price objective on JFrog from $45.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday. DA Davidson raised their price target on shares of JFrog from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cantor Fitzgerald boosted their target price on JFrog from $46.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Morgan Stanley raised their price target on JFrog from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.87.

Read Our Latest Research Report on FROG

Insider Buying and Selling at JFrog

In related news, CRO Tali Notman sold 23,157 shares of the company'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 completion of the sale, the executive directly owned 686,360 shares of the company's stock, valued at $29,623,297.60. This represents a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Yoav Landman sold 8,734 shares of JFrog stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $42.39, for a total value of $370,234.26. Following the transaction, the chief technology officer directly owned 6,321,086 shares in the company, valued at approximately $267,950,835.54. This trade represents a 0.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,338 shares of company stock valued at $11,050,150. 14.10% of the stock is owned by insiders.

Institutional Investors Weigh In On JFrog

Institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC increased its holdings in shares of JFrog by 19.8% in the fourth quarter. LPL Financial LLC now owns 22,002 shares of the company's stock valued at $647,000 after purchasing an additional 3,633 shares during the period. Geode Capital Management LLC grew its holdings in shares of JFrog by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 143,481 shares of the company's stock worth $4,220,000 after acquiring an additional 7,839 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of JFrog in the fourth quarter valued at $635,000. Bank of Montreal Can purchased a new position in JFrog during the 4th quarter valued at about $405,000. Finally, Legal & General Group Plc raised its position in shares of JFrog by 4.1% during the 4th quarter. Legal & General Group Plc now owns 542,055 shares of the company's stock worth $15,942,000 after purchasing an additional 21,567 shares during the last quarter. 85.02% of the stock is owned by hedge funds and other institutional investors.

JFrog Price Performance

The company has a 50-day moving average price of $42.13 and a 200-day moving average price of $37.89.

JFrog Company Profile

(Get Free Report)

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.

Further Reading

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