DA Davidson Cuts JFrog (NASDAQ:FROG) Price Target to $40.00

JFrog (NASDAQ:FROG) had its target price reduced by DA Davidson from $50.00 to $40.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Raymond James assumed coverage on shares of JFrog in a research report on Friday, April 11th. They set an “outperform” rating and a $40.00 price target for the company. KeyCorp reaffirmed an “overweight” rating and set a $46.00 target price (up from $36.00) on shares of JFrog in a report on Friday, February 14th. Morgan Stanley lifted their price target on shares of JFrog from $36.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Needham & Company LLC upped their price objective on JFrog from $39.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group raised their target price on JFrog from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, JFrog currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.71.

JFrog Trading Down 1.1 %

Shares of FROG stock opened at $31.80 on Monday. JFrog has a 12-month low of $22.91 and a 12-month high of $43.00. The stock has a market capitalization of $3.64 billion, a P/E ratio of -50.48 and a beta of 0.98. The firm’s 50 day moving average is $34.33 and its 200 day moving average is $32.31.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). JFrog had a negative return on equity of 6.42% and a negative net margin of 16.16%. The firm had revenue of $116.08 million during the quarter, compared to analysts’ expectations of $114.16 million. As a group, equities analysts predict that JFrog will post -0.33 earnings per share for the current year.

Insider Activity

In other news, CRO Tali Notman sold 75,635 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $35.00, for a total transaction of $2,647,225.00. Following the completion of the transaction, the executive now owns 582,394 shares in the company, valued at $20,383,790. This trade represents a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ben Haim Shlomi sold 17,775 shares of JFrog stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $36.73, for a total value of $652,875.75. Following the completion of the sale, the chief executive officer now directly owns 4,866,809 shares in the company, valued at $178,757,894.57. This trade represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 429,104 shares of company stock worth $15,084,429 over the last quarter. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FROG. Norges Bank purchased a new stake in JFrog during the fourth quarter valued at $32,878,000. Raymond James Financial Inc. bought a new stake in shares of JFrog in the 4th quarter worth about $30,554,000. Mackenzie Financial Corp raised its position in shares of JFrog by 93.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,996,012 shares of the company’s stock valued at $58,703,000 after buying an additional 965,912 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of JFrog by 48.4% in the 4th quarter. Champlain Investment Partners LLC now owns 2,446,819 shares of the company’s stock valued at $71,961,000 after acquiring an additional 797,949 shares during the last quarter. Finally, Bamco Inc. NY purchased a new position in JFrog in the fourth quarter worth about $21,322,000. 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.