Canaccord Genuity Group Forecasts Strong Price Appreciation for JFrog (NASDAQ:FROG) Stock

Key Points

• JFrog's target price has been raised from $52.00 to $55.00 by Canaccord Genuity Group, indicating a potential upside of 10.75% from the stock's previous close.
• JFrog reported an earnings per share (EPS) of $0.18, exceeding analyst expectations, and had a revenue growth of 23.5% year-over-year for the recent quarter.
• Insider sales included significant transactions by CEO Ben Haim Shlomi and CTO Yoav Landman, with insiders selling a total of 493,748 shares valued at over $23 million in the last three months.

JFrog (NASDAQ:FROG - Free Report) had its target price raised by Canaccord Genuity Group from $52.00 to $55.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently issued reports on FROG. Barclays boosted their price objective on shares of JFrog from $45.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $55.00 price target on shares of JFrog in a research note on Wednesday, September 10th. Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 price target (up previously from $40.00) on shares of JFrog in a research note on Friday, August 8th. Robert W. Baird set a $47.00 price target on shares of JFrog and gave the company an "outperform" rating in a research note on Monday, August 4th. Finally, Stifel Nicolaus lifted their price target on shares of JFrog from $45.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.93.

JFrog Stock Down 2.3%

NASDAQ FROG traded down $1.15 during trading on Thursday, reaching $48.21. 827,722 shares of the stock traded hands, compared to its average volume of 1,140,110. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of -62.55 and a beta of 1.07. The stock's 50-day moving average price is $44.60 and its 200 day moving average price is $39.75. JFrog has a fifty-two week low of $27.00 and a fifty-two week high of $50.98.

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 analysts' consensus estimates 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 net margin of 18.18% and a negative return on equity of 7.54%. The business's revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. JFrog has set its FY 2025 guidance at 0.680-0.70 EPS. Q3 2025 guidance at 0.150-0.17 EPS. Analysts anticipate that JFrog will post -0.33 EPS for the current fiscal year.

Insider Activity at JFrog

In related news, CEO Ben Haim Shlomi sold 38,159 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $50.32, for a total value of $1,920,160.88. Following the completion of the transaction, the chief executive officer owned 4,899,512 shares in the company, valued at $246,543,443.84. This trade represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Yoav Landman sold 102,419 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $49.73, for a total transaction of $5,093,296.87. Following the completion of the transaction, the chief technology officer owned 6,081,087 shares of the company's stock, valued at approximately $302,412,456.51. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 528,748 shares of company stock worth $24,783,511 in the last quarter. 14.10% of the stock is owned by insiders.

Institutional Trading of JFrog

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its position in JFrog by 31.0% during the 2nd quarter. Osaic Holdings Inc. now owns 6,557 shares of the company's stock valued at $288,000 after purchasing an additional 1,550 shares during the period. Orion Porfolio Solutions LLC increased its position in JFrog by 1.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 49,219 shares of the company's stock valued at $2,160,000 after purchasing an additional 668 shares during the period. Squarepoint Ops LLC increased its position in JFrog by 208.8% during the 2nd quarter. Squarepoint Ops LLC now owns 27,697 shares of the company's stock valued at $1,215,000 after purchasing an additional 18,727 shares during the period. Headlands Technologies LLC acquired a new stake in JFrog during the 2nd quarter valued at approximately $181,000. Finally, Tower Research Capital LLC TRC increased its position in JFrog by 7,185.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,987 shares of the company's stock valued at $131,000 after purchasing an additional 2,946 shares during the period. Institutional investors and hedge funds own 85.02% of the company's stock.

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.