JFrog (NASDAQ:FROG) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler raised its target price for JFrog (NASDAQ:FROG) from $40.00 to $48.00, suggesting a potential upside of 23.74% from its previous closing price.
• JFrog's recent quarterly earnings surpassed expectations with an EPS of $0.18 and revenue of $127.20 million, marking a year-over-year growth of 23.5%.
• Currently, 15 analysts have issued a buy rating for JFrog, while it holds an average rating of "Moderate Buy" with a price target of $44.50.

JFrog (NASDAQ:FROG - Get Free Report) had its target price hoisted by analysts at Piper Sandler from $40.00 to $48.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential upside of 23.74% from the company's previous close.

A number of other research firms have also weighed in on FROG. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $46.00 price objective on shares of JFrog in a research note on Monday, May 5th. Morgan Stanley upped their price target on shares of JFrog from $39.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. DA Davidson lifted their price objective on shares of JFrog from $40.00 to $45.00 and gave the company a "buy" rating in a report on Friday, May 9th. Raymond James Financial set a $50.00 price objective on shares of JFrog and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, Robert W. Baird increased their target price on JFrog from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.50.

JFrog Price Performance

Shares of FROG stock opened at $38.79 on Friday. The company's 50-day simple moving average is $42.11 and its two-hundred day simple moving average is $37.80. JFrog has a one year low of $22.91 and a one year high of $45.99. The company has a market capitalization of $4.44 billion, a P/E ratio of -54.63 and a beta of 1.06.

JFrog (NASDAQ:FROG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $122.80 million. JFrog had a negative return on equity of 7.24% and a negative net margin of 17.52%. JFrog's quarterly revenue was up 23.5% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. On average, research analysts expect that JFrog will post -0.33 EPS for the current fiscal year.

Insider Transactions at JFrog

In other news, CRO Tali Notman sold 23,157 shares of the firm'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 transaction, the executive directly owned 686,360 shares in the company, valued at $29,623,297.60. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Yoav Landman sold 50,000 shares of JFrog stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $43.26, for a total value of $2,163,000.00. Following the sale, the chief technology officer directly owned 6,371,086 shares of the company's stock, valued at $275,613,180.36. This trade represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,338 shares of company stock worth $11,050,150 over the last 90 days. Insiders own 14.10% of the company's stock.

Hedge Funds Weigh In On JFrog

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC increased its stake in shares of JFrog by 90.9% in the first quarter. Signaturefd LLC now owns 1,254 shares of the company's stock worth $40,000 after acquiring an additional 597 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of JFrog by 32.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,344 shares of the company's stock valued at $43,000 after buying an additional 329 shares during the period. Bayforest Capital Ltd purchased a new stake in shares of JFrog in the first quarter worth about $104,000. Smartleaf Asset Management LLC grew its holdings in JFrog by 26.3% during the first quarter. Smartleaf Asset Management LLC now owns 3,838 shares of the company's stock worth $123,000 after acquiring an additional 800 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in JFrog during the first quarter valued at approximately $128,000. 85.02% of the stock is owned by hedge funds and other 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.

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