Zacks Investment Research Upgrades JFrog (NASDAQ:FROG) to Hold

JFrog (NASDAQ:FROGGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “JFrog Ltd operates as a software development company. Its products are available as open-source, self-managed, SaaS services on AWS, Microsoft Azure and Google Cloud. The company operates principally in North America, Europe and Asia. JFrog Ltd is based in Calif., United States. “

Several other brokerages have also weighed in on FROG. Piper Sandler decreased their price objective on JFrog from $44.00 to $32.00 in a report on Thursday, January 6th. Oppenheimer decreased their price objective on JFrog from $55.00 to $45.00 in a research note on Friday, February 11th. Stifel Nicolaus decreased their target price on JFrog from $45.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, March 21st. KeyCorp initiated coverage on JFrog in a research report on Wednesday, December 22nd. They set a “sector weight” rating for the company. Finally, Morgan Stanley lowered their target price on JFrog from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, February 14th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, JFrog has a consensus rating of “Hold” and a consensus price target of $44.29.

Shares of NASDAQ:FROG traded up $0.93 during mid-day trading on Wednesday, hitting $25.63. 419,297 shares of the company traded hands, compared to its average volume of 807,453. The firm’s 50 day simple moving average is $24.77 and its 200 day simple moving average is $29.05. The firm has a market cap of $2.36 billion, a P/E ratio of -38.25 and a beta of 0.63. JFrog has a 52-week low of $21.06 and a 52-week high of $54.05.

JFrog (NASDAQ:FROGGet Rating) last announced its earnings results on Thursday, February 10th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.06). The firm had revenue of $59.20 million for the quarter, compared to the consensus estimate of $58.04 million. JFrog had a negative net margin of 31.06% and a negative return on equity of 8.23%. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) EPS. On average, equities analysts expect that JFrog will post -0.51 earnings per share for the current fiscal year.

In other JFrog news, CRO Tali Notman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 23rd. The shares were sold at an average price of $22.67, for a total transaction of $340,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Yakov (Jacob) Shulman sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $22.94, for a total transaction of $137,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,074 shares of company stock worth $1,556,464 in the last three months. Insiders own 38.30% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. lifted its position in shares of JFrog by 21.8% in the third quarter. Advisor Group Holdings Inc. now owns 3,026 shares of the company’s stock worth $102,000 after buying an additional 542 shares in the last quarter. Jag Capital Management LLC boosted its position in JFrog by 6.4% during the 3rd quarter. Jag Capital Management LLC now owns 9,362 shares of the company’s stock valued at $314,000 after acquiring an additional 567 shares in the last quarter. Victory Capital Management Inc. boosted its position in JFrog by 8.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,343 shares of the company’s stock valued at $279,000 after acquiring an additional 681 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of JFrog by 1.3% during the 4th quarter. Rhumbline Advisers now owns 55,460 shares of the company’s stock valued at $1,647,000 after purchasing an additional 723 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of JFrog during the 3rd quarter valued at $26,000. Institutional investors own 63.07% of the company’s stock.

About JFrog (Get Rating)

JFrog Ltd. provides DevOps platform in the United States. The company's products include JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages at any scale; JFrog Pipelines, an integration/continuous delivery tool for automating and orchestrating the movement of software packages; JFrog Xray, which scan JFrog Artifactory; and JFrog Distribution that provides software package distribution with enterprise-grade performance.

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