JFrog (NASDAQ:FROG) Stock Gets Price Target Increase from Morgan Stanley

JFrog (NASDAQ:FROG) had its target price lifted by analysts at Morgan Stanley from $100.00 to $114.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley‘s price objective would suggest a potential upside of 4.10% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Raymond James Financial set a $120.00 price target on JFrog in a research note on Friday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $115.00 price objective on shares of JFrog in a research note on Wednesday, November 4th. Wall Street Zen downgraded shares of JFrog from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. KeyCorp boosted their price target on JFrog from $114.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of JFrog in a research note on Thursday, October 15th. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, JFrog presently has a consensus rating of “Moderate Buy” and an average target price of $113.10.

JFrog Price Performance

FROG stock opened at $109.51 on Thursday. The company has a market cap of $13.65 billion, a P/E ratio of -608.39 and a beta of 1.31. JFrog has a 1 year low of $34.05 and a 1 year high of $113.23. The stock’s fifty day moving average price is $94.04 and its 200-day moving average price is $73.34.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.23 by $0.09. The company had revenue of $179.17 million during the quarter, compared to analyst estimates of $165.92 million. JFrog had a negative return on equity of 1.55% and a negative net margin of 3.29%. JFrog’s revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, analysts expect that JFrog will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other JFrog news, CRO Tali Notman sold 18,794 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $86.98, for a total transaction of $1,634,702.12. Following the completion of the transaction, the executive owned 668,678 shares of the company’s stock, valued at $58,161,612.44. This represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederic Simon sold 120,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $97.24, for a total value of $11,668,800.00. Following the transaction, the director owned 2,744,328 shares of the company’s stock, valued at approximately $266,858,454.72. The trade was a 4.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 735,453 shares of company stock worth $70,307,366 in the last 90 days. 11.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On JFrog

A number of hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in JFrog in the 3rd quarter worth approximately $387,000. USS Investment Management Ltd bought a new position in shares of JFrog during the 3rd quarter valued at approximately $1,563,000. Voya Investment Management LLC boosted its position in shares of JFrog by 6.0% during the 3rd quarter. Voya Investment Management LLC now owns 1,001,198 shares of the company’s stock valued at $97,156,000 after acquiring an additional 56,226 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of JFrog by 461.9% in the third quarter. Global Retirement Partners LLC now owns 2,377 shares of the company’s stock valued at $231,000 after purchasing an additional 1,954 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of JFrog in the third quarter valued at $849,000. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

About JFrog

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment. Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues. The broader platform also offers tools for continuous integration and delivery, software distribution, and software supply-chain security, and can be deployed in cloud, on-premises, or hybrid environments.