JFrog (NASDAQ:FROG) Given New $53.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has raised its target price for JFrog (NASDAQ:FROG) from $45.00 to $53.00, indicating a potential upside of 22.70% and maintaining a "buy" rating on the stock.
• JFrog's quarterly earnings surpassed expectations, reporting a $0.18 EPS against the consensus estimate of $0.16, alongside a revenue increase of 23.5% year-over-year.
• Insiders have recently sold shares in JFrog, with CFO Eduard Grabscheid selling 13,043 shares for approximately $586,935, reflecting a decrease in their ownership percentage.

JFrog (NASDAQ:FROG - Get Free Report) had its price objective hoisted by equities research analysts at Stifel Nicolaus from $45.00 to $53.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective indicates a potential upside of 21.50% from the company's previous close.

A number of other equities research analysts also recently commented on FROG. Cantor Fitzgerald reiterated an "overweight" rating and issued a $46.00 price objective on shares of JFrog in a report on Monday, May 5th. Wall Street Zen upgraded JFrog from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Raymond James Financial set a $50.00 price objective on JFrog and gave the company an "outperform" rating in a report on Tuesday, July 1st. Needham & Company LLC upped their price objective on JFrog from $46.00 to $55.00 and gave the company a "buy" rating in a report on Friday. Finally, Morgan Stanley upped their price objective on JFrog from $39.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, JFrog currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.87.

JFrog Price Performance

Shares of FROG stock traded up $4.83 on Friday, reaching $43.62. 4,878,951 shares of the stock were exchanged, compared to its average volume of 1,052,787. JFrog has a one year low of $24.13 and a one year high of $46.64. The stock has a 50 day moving average price of $42.13 and a 200 day moving average price of $37.89. The stock has a market cap of $5.00 billion, a PE ratio of -56.65 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, beating analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $127.20 million during the quarter, compared to the consensus estimate of $122.80 million. JFrog had a negative return on equity of 7.66% and a negative net margin of 18.18%. The firm's revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, research analysts expect that JFrog will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JFrog news, CTO Yoav Landman sold 8,734 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $42.39, for a total value of $370,234.26. Following the sale, the chief technology officer owned 6,321,086 shares in the company, valued at approximately $267,950,835.54. The trade was a 0.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Eduard Grabscheid sold 13,043 shares of the business'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 sale, the chief financial officer owned 159,887 shares in the company, valued at $7,194,915. The trade was a 7.54% decrease in their position. 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 90 days. Company insiders own 14.10% of the company's stock.

Institutional Investors Weigh In On JFrog

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted 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 acquiring an additional 597 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in 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 acquiring an additional 329 shares in the last quarter. Bayforest Capital Ltd acquired a new position in JFrog during the first quarter valued at approximately $104,000. Smartleaf Asset Management LLC boosted its position in JFrog by 26.3% during 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 acquired a new position in JFrog during the first quarter valued at approximately $128,000. Institutional investors own 85.02% of the company's stock.

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.