JFrog (NASDAQ:FROG) Given New $29.00 Price Target at Stifel Nicolaus

JFrog (NASDAQ:FROGGet Rating) had its target price decreased by Stifel Nicolaus from $36.00 to $29.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Stifel Nicolaus’ price target indicates a potential upside of 57.61% from the stock’s previous close.

FROG has been the topic of a number of other research reports. Morgan Stanley decreased their target price on shares of JFrog from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, February 14th. Needham & Company LLC decreased their target price on shares of JFrog from $71.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 9th. Zacks Investment Research cut shares of JFrog from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Finally, Oppenheimer reduced their price target on shares of JFrog from $45.00 to $37.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, JFrog currently has a consensus rating of “Hold” and a consensus target price of $31.33.

Shares of FROG opened at $18.40 on Tuesday. The firm has a 50-day moving average price of $24.03 and a 200 day moving average price of $27.69. JFrog has a 12-month low of $18.23 and a 12-month high of $50.31. The firm has a market capitalization of $1.79 billion, a P/E ratio of -27.46 and a beta of 0.88.

JFrog (NASDAQ:FROGGet Rating) last posted its earnings results on Thursday, February 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). JFrog had a negative net margin of 31.06% and a negative return on equity of 8.23%. The company had revenue of $59.20 million during the quarter, compared to analyst estimates of $58.04 million. During the same period in the previous year, the company earned ($0.04) EPS. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. As a group, equities analysts anticipate that JFrog will post -0.51 EPS for the current year.

In related news, CRO Tali Notman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $23.96, for a total value of $359,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Yakov (Jacob) Shulman sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $24.46, for a total transaction of $146,760.00. Following the completion of the sale, the chief financial officer now directly owns 320,922 shares in the company, valued at approximately $7,849,752.12. The disclosure for this sale can be found here. Insiders have sold 72,074 shares of company stock worth $1,703,224 in the last three months. Corporate insiders own 33.70% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Deutsche Bank AG increased its stake in JFrog by 225.2% in the third quarter. Deutsche Bank AG now owns 242,493 shares of the company’s stock valued at $8,123,000 after purchasing an additional 167,915 shares during the last quarter. Pathway Capital Management LP purchased a new position in JFrog in the third quarter valued at approximately $906,000. Baillie Gifford & Co. increased its stake in JFrog by 30.4% in the fourth quarter. Baillie Gifford & Co. now owns 1,686,068 shares of the company’s stock valued at $50,077,000 after purchasing an additional 393,545 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in JFrog in the third quarter valued at approximately $2,864,000. Finally, Phoenix Holdings Ltd. increased its stake in JFrog by 7.4% in the fourth quarter. Phoenix Holdings Ltd. now owns 40,794 shares of the company’s stock valued at $1,233,000 after purchasing an additional 2,827 shares during the last quarter. 65.75% of the stock is currently owned by hedge funds and other institutional investors.

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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