Morgan Stanley Trims JFrog (NASDAQ:FROG) Target Price to $47.00

JFrog (NASDAQ:FROG) had its price target cut by Morgan Stanley from $52.00 to $47.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 40.97% from the stock’s current price.

Several other research analysts have also weighed in on FROG. Oppenheimer upped their price target on JFrog from $41.00 to $48.00 in a research report on Thursday, March 7th. DA Davidson increased their target price on JFrog from $45.00 to $55.00 in a research note on Thursday, March 7th. Truist Financial increased their target price on JFrog from $41.00 to $50.00 in a research note on Thursday, March 7th. Bank Of America (Bofa) raised their price objective on JFrog from $36.00 to $54.00 in a research report on Thursday, March 7th. Finally, KeyCorp started coverage on JFrog in a research report on Tuesday, March 19th. They set an “overweight” rating and a $52.00 target price for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.31.

JFrog Trading Down 17.9 %

FROG traded down $7.28 during trading on Friday, reaching $33.34. 5,261,233 shares of the company were exchanged, compared to its average volume of 1,220,669. JFrog has a 52 week low of $21.38 and a 52 week high of $48.81. The stock has a market cap of $3.40 billion, a P/E ratio of -55.33 and a beta of 1.01. The firm has a 50 day moving average of $41.62 and a 200 day moving average of $35.40.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $100.31 million during the quarter, compared to analyst estimates of $98.63 million. JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. As a group, analysts forecast that JFrog will post -0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $38.97, for a total transaction of $1,363,950.00. Following the completion of the transaction, the director now directly owns 4,654,432 shares in the company, valued at approximately $181,383,215.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Eduard Grabscheid sold 605 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $26,553.45. Following the completion of the sale, the chief financial officer now directly owns 85,565 shares in the company, valued at approximately $3,755,447.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $38.97, for a total value of $1,363,950.00. Following the completion of the sale, the director now owns 4,654,432 shares of the company’s stock, valued at $181,383,215.04. The disclosure for this sale can be found here. Insiders have sold 501,355 shares of company stock valued at $22,340,017 in the last 90 days. 15.70% of the stock is currently owned by insiders.

Institutional Trading of JFrog

Several institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in JFrog in the 1st quarter valued at $494,000. Orion Portfolio Solutions LLC raised its holdings in JFrog by 5.0% in the 1st quarter. Orion Portfolio Solutions LLC now owns 47,094 shares of the company’s stock valued at $2,082,000 after acquiring an additional 2,228 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in JFrog by 4.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock valued at $76,160,000 after acquiring an additional 73,036 shares in the last quarter. Entropy Technologies LP acquired a new position in JFrog in the 1st quarter valued at $816,000. Finally, Russell Investments Group Ltd. raised its holdings in JFrog by 394.2% in the 1st quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock valued at $1,268,000 after acquiring an additional 22,864 shares in the last quarter. 85.02% of the stock is currently owned by institutional investors.

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.