Robert W. Baird Issues Positive Forecast for JFrog (NASDAQ:FROG) Stock Price

Key Points

• Robert W. Baird raised its price target for JFrog's stock from $45.00 to $47.00, indicating a potential upside of 12.12% from the previous close.
• The stock has received 15 buy ratings, 3 hold ratings, and 1 strong buy rating, leading to an average rating of "Moderate Buy" with a target price of $42.94.
• JFrog reported earnings of $0.20 per share, surpassing estimates, and revenue increased by 22.0% year-over-year, reaching $122.41 million for the quarter.

JFrog (NASDAQ:FROG - Get Free Report) had its price objective raised by analysts at Robert W. Baird from $45.00 to $47.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 12.12% from the stock's previous close.

A number of other equities analysts have also weighed in on FROG. DA Davidson increased their price target on JFrog from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Scotiabank reduced their price target on shares of JFrog from $40.00 to $36.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and set a $46.00 price objective on shares of JFrog in a research report on Monday, May 5th. Morgan Stanley upped their price target on JFrog from $39.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Barclays reissued an "overweight" rating and issued a $45.00 price objective (up from $42.00) on shares of JFrog in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $42.94.

JFrog Price Performance

FROG opened at $41.92 on Monday. JFrog has a 1-year low of $22.91 and a 1-year high of $45.99. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of -59.04 and a beta of 1.06. The business has a 50 day moving average price of $42.20 and a two-hundred day moving average price of $37.62.

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

Insider Buying and Selling at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $41.71, for a total value of $1,459,850.00. Following the completion of the sale, the director owned 4,239,903 shares of the company's stock, valued at $176,846,354.13. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eduard Grabscheid sold 13,043 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 159,887 shares in the company, valued at $7,194,915. The trade was a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,338 shares of company stock worth $11,050,150 in the last ninety days. Company insiders own 14.10% of the company's stock.

Hedge Funds Weigh In On JFrog

A number of institutional investors have recently modified their holdings of the company. Signaturefd LLC grew its stake in JFrog by 90.9% in the 1st quarter. Signaturefd LLC now owns 1,254 shares of the company's stock valued at $40,000 after buying an additional 597 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in JFrog by 32.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,344 shares of the company's stock valued at $43,000 after acquiring an additional 329 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of JFrog in the first quarter valued at about $104,000. Smartleaf Asset Management LLC grew its position in shares of JFrog by 26.3% in the first quarter. Smartleaf Asset Management LLC now owns 3,838 shares of the company's stock valued at $123,000 after purchasing an additional 800 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in JFrog during the 1st quarter valued at approximately $128,000. Institutional investors 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.

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