JFrog (NASDAQ:FROG) Given New $32.00 Price Target at Piper Sandler

JFrog (NASDAQ:FROG) had its target price lowered by equities researchers at Piper Sandler from $40.00 to $32.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 22.42% from the company’s current price.

FROG has been the topic of a number of other research reports. Oppenheimer cut JFrog from an “outperform” rating to a “market perform” rating in a research note on Thursday. UBS Group began coverage on JFrog in a research note on Wednesday, May 22nd. They set a “buy” rating and a $41.00 price objective on the stock. FBN Securities began coverage on JFrog in a research note on Wednesday, May 22nd. They set an “outperform” rating and a $45.00 price objective on the stock. KeyCorp dropped their price objective on JFrog from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Finally, Canaccord Genuity Group dropped their price target on JFrog from $48.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.00.

JFrog Price Performance

NASDAQ:FROG traded up $1.46 during trading hours on Thursday, reaching $26.14. 3,122,110 shares of the stock were exchanged, compared to its average volume of 1,272,460. JFrog has a twelve month low of $21.38 and a twelve month high of $48.81. The stock has a market cap of $2.66 billion, a PE ratio of -55.62 and a beta of 0.96. The firm has a 50 day moving average of $35.00 and a 200 day moving average of $37.79.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. The company had revenue of $100.31 million for the quarter, compared to analysts’ expectations of $98.63 million. Equities research analysts anticipate that JFrog will post -0.21 earnings per share for the current year.

Insider Buying and Selling at JFrog

In other JFrog news, CEO Ben Haim Shlomi sold 57,550 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the transaction, the chief executive officer now directly owns 5,048,099 shares of the company’s stock, valued at approximately $163,154,559.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other JFrog news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total value of $1,356,250.00. Following the transaction, the director now directly owns 4,549,432 shares of the company’s stock, valued at approximately $176,290,490. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ben Haim Shlomi sold 57,550 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the sale, the chief executive officer now directly owns 5,048,099 shares in the company, valued at $163,154,559.68. The disclosure for this sale can be found here. Insiders have sold a total of 272,107 shares of company stock valued at $9,513,787 in the last ninety days. 15.70% of the stock is currently owned by corporate insiders.

Institutional Trading of JFrog

Several large investors have recently modified their holdings of FROG. Arcadia Investment Management Corp MI acquired a new stake in shares of JFrog during the 1st quarter worth $26,000. Frazier Financial Advisors LLC acquired a new stake in shares of JFrog during the 4th quarter worth $35,000. Future Financial Wealth Managment LLC acquired a new stake in shares of JFrog during the 1st quarter worth $44,000. Advisors Asset Management Inc. grew its holdings in shares of JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after purchasing an additional 662 shares in the last quarter. Finally, RiverPark Advisors LLC acquired a new stake in shares of JFrog during the 1st quarter worth $140,000. 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.