JFrog (NASDAQ:FROG) Price Target Raised to $55.00 at Raymond James Financial

Key Points

• Needham & Company LLC has increased JFrog's price target from $46.00 to $55.00, indicating a potential upside of 20.73% from the current price, while maintaining a "buy" rating.
• JFrog reported quarterly earnings of $0.18 EPS, beating analyst estimates and showing a 23.5% year-over-year revenue increase to $127.20 million.
• Recent insider trading includes significant share sales by the director and CRO, collectively amounting to over $2.4 million in stock during recent months.

JFrog (NASDAQ:FROG - Get Free Report) had its price target hoisted by Raymond James Financial from $50.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's target price would suggest a potential upside of 26.09% from the stock's current price.

Several other equities analysts have also weighed in on FROG. Piper Sandler upped their price objective on shares of JFrog from $40.00 to $48.00 and gave the company a "neutral" rating in a report on Friday. Scotiabank dropped their price target on JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Needham & Company LLC upped their price target on JFrog from $46.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday. Stifel Nicolaus upped their target price on JFrog from $45.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Morgan Stanley upped their target price on JFrog from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.87.

JFrog Stock Performance

Shares of NASDAQ:FROG traded up $4.83 during midday trading on Friday, reaching $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 firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of -56.65 and a beta of 1.06. The firm has a 50 day moving average price of $42.13 and a two-hundred day moving average price of $37.86. JFrog has a fifty-two week low of $24.13 and a fifty-two week high of $46.64.

JFrog (NASDAQ:FROG - Get Free Report) last issued its quarterly earnings results 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. JFrog had a negative return on equity of 7.66% and a negative net margin of 18.18%. The firm had revenue of $127.20 million for the quarter, compared to analyst estimates of $122.80 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The company's revenue was up 23.5% compared to the same quarter last year. As a group, research analysts anticipate that JFrog will post -0.33 earnings per share for the current year.

Insider Activity at JFrog

In other JFrog news, CRO Tali Notman sold 23,157 shares of JFrog stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $43.16, for a total value of $999,456.12. Following the sale, the executive owned 686,360 shares of the company's stock, valued at approximately $29,623,297.60. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ben Haim Shlomi sold 15,000 shares of JFrog stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $41.75, for a total transaction of $626,250.00. Following the completion of the sale, the chief executive officer directly owned 4,981,412 shares in the company, valued at approximately $207,973,951. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,338 shares of company stock valued at $11,050,150 in the last ninety days. Insiders own 14.10% of the company's stock.

Institutional Trading of JFrog

Several hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers raised its stake in shares of JFrog by 15.6% in the second quarter. Cetera Investment Advisers now owns 25,739 shares of the company's stock valued at $1,129,000 after buying an additional 3,478 shares during the period. SG Americas Securities LLC raised its position in shares of JFrog by 231.7% in the second 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 period. Calamos Advisors LLC bought a new stake in shares of JFrog in the second quarter valued at approximately $535,000. Geode Capital Management LLC raised its holdings in JFrog by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 144,152 shares of the company's stock valued at $6,319,000 after acquiring an additional 2,160 shares during the period. Finally, Lisanti Capital Growth LLC raised its holdings in JFrog by 10.2% during the 2nd quarter. Lisanti Capital Growth LLC now owns 110,195 shares of the company's stock valued at $4,835,000 after acquiring an additional 10,230 shares during the period. 85.02% of the stock is currently owned by institutional investors.

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.