Wall Street Zen Upgrades JFrog (NASDAQ:FROG) to Buy

JFrog (NASDAQ:FROG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday.

Several other research firms have also recently issued reports on FROG. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $46.00 price target on shares of JFrog in a report on Monday, May 5th. DA Davidson upped their target price on shares of JFrog from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Barclays reduced their price target on shares of JFrog from $48.00 to $42.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Raymond James Financial started coverage on JFrog in a report on Friday, April 11th. They issued an "outperform" rating and a $40.00 price objective for the company. Finally, Scotiabank reduced their target price on JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, JFrog presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.06.

JFrog Stock Performance

JFrog stock traded down $1.01 during trading on Friday, reaching $41.60. 367,429 shares of the company's stock were exchanged, compared to its average volume of 1,115,850. JFrog has a 52-week low of $22.91 and a 52-week high of $45.10. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of -58.52 and a beta of 1.06. The company's 50-day moving average is $40.41 and its two-hundred day moving average is $35.83.

JFrog (NASDAQ:FROG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.04. The company had revenue of $122.41 million for the quarter, compared to analysts' expectations of $117.44 million. JFrog had a negative return on equity of 7.24% and a negative net margin of 17.52%. The firm's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Analysts anticipate that JFrog will post -0.33 EPS for the current year.

Insider Activity

In other JFrog news, CFO Eduard Grabscheid sold 13,043 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $45.00, for a total value of $586,935.00. Following the completion of the sale, the chief financial officer directly owned 159,887 shares of the company's stock, valued at approximately $7,194,915. This represents a 7.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Tali Notman sold 23,157 shares of JFrog stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $43.16, for a total transaction 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 represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,113 shares of company stock valued at $8,568,964 over the last quarter. Insiders own 14.10% of the company's stock.

Institutional Investors Weigh In On JFrog

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of JFrog by 0.4% in the 1st 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 lifted its stake in JFrog by 6.5% during the first quarter. TimesSquare Capital Management LLC now owns 3,622,911 shares of the company's stock valued at $115,933,000 after buying an additional 222,635 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings 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 during the period. Champlain Investment Partners LLC increased its position in shares of JFrog by 48.4% in the fourth quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company's stock worth $71,961,000 after acquiring an additional 797,949 shares in the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of 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 acquiring an additional 70,204 shares during the period. 85.02% of the stock is owned by institutional investors and hedge funds.

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.