JFrog’s (FROG) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of JFrog (NASDAQ:FROG) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has a $35.00 price target on the stock. Cantor Fitzgerald also issued estimates for JFrog’s FY2024 earnings at ($0.29) EPS.

FROG has been the topic of several other research reports. Barclays decreased their price target on JFrog from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. DA Davidson reissued a “buy” rating and issued a $40.00 target price on shares of JFrog in a research report on Monday, October 14th. Oppenheimer lowered JFrog from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 8th. Stifel Nicolaus reduced their target price on JFrog from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler reduced their target price on JFrog from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Three equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.61.

JFrog Stock Performance

Shares of NASDAQ FROG opened at $29.83 on Tuesday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -66.29 and a beta of 0.94. The business has a 50 day simple moving average of $28.75 and a 200 day simple moving average of $32.62. JFrog has a 52 week low of $22.91 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last issued its earnings results on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The firm had revenue of $103.04 million during the quarter, compared to analyst estimates of $103.53 million. JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. On average, analysts predict that JFrog will post -0.28 EPS for the current year.

Insider Transactions at JFrog

In other news, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $30.85, for a total transaction of $462,750.00. Following the completion of the transaction, the chief technology officer now owns 6,612,242 shares of the company’s stock, valued at approximately $203,987,665.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ben Haim Shlomi sold 35,550 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the transaction, the chief executive officer now owns 4,975,229 shares of the company’s stock, valued at approximately $149,256,870. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.85, for a total value of $462,750.00. Following the completion of the transaction, the chief technology officer now directly owns 6,612,242 shares of the company’s stock, valued at approximately $203,987,665.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,031 shares of company stock valued at $4,003,447. Corporate insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On JFrog

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in JFrog by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 7,578,951 shares of the company’s stock worth $335,141,000 after purchasing an additional 523,432 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in JFrog by 22.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,083,650 shares of the company’s stock worth $115,791,000 after purchasing an additional 561,897 shares in the last quarter. Lord Abbett & CO. LLC increased 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 worth $76,160,000 after purchasing an additional 73,036 shares in the last quarter. Renaissance Technologies LLC increased its holdings in JFrog by 17.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,675,200 shares of the company’s stock worth $62,904,000 after purchasing an additional 254,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of JFrog by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,668,161 shares of the company’s stock valued at $62,636,000 after buying an additional 41,275 shares during the last quarter. Institutional investors and hedge funds 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.