JFrog (NASDAQ:FROG) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of JFrog (NASDAQ:FROGGet Rating) from a buy rating to a hold rating in a report published 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. “

Other equities research analysts have also issued reports about the company. Morgan Stanley decreased their price objective on JFrog from $43.00 to $40.00 and set an equal weight rating for the company in a research report on Monday, February 14th. Oppenheimer decreased their price objective on JFrog from $45.00 to $37.00 in a research report on Tuesday, May 10th. Needham & Company LLC reduced their price target on JFrog from $32.00 to $23.00 in a report on Tuesday, May 10th. Finally, Stifel Nicolaus reduced their price target on JFrog from $36.00 to $29.00 in a report on Tuesday, May 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JFrog presently has a consensus rating of Hold and an average price target of $30.33.

Shares of FROG opened at $17.84 on Wednesday. The business’s 50-day moving average price is $23.06 and its 200 day moving average price is $26.89. The stock has a market capitalization of $1.74 billion, a P/E ratio of -22.87 and a beta of 0.88. JFrog has a 1-year low of $16.36 and a 1-year high of $50.31.

JFrog (NASDAQ:FROGGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). JFrog had a negative return on equity of 9.02% and a negative net margin of 33.74%. The business had revenue of $63.70 million for the quarter, compared to analyst estimates of $61.32 million. Equities analysts anticipate that JFrog will post -0.52 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 stock was sold at an average price of $23.96, for a total value of $359,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 value of $146,760.00. Following the completion of the transaction, the chief financial officer now directly owns 320,922 shares in the company, valued at $7,849,752.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,074 shares of company stock valued at $1,810,144. 33.70% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of FROG. Insight Holdings Group LLC increased its position in JFrog by 3.1% in the 4th quarter. Insight Holdings Group LLC now owns 4,748,122 shares of the company’s stock worth $141,019,000 after buying an additional 142,333 shares during the period. Vanguard Group Inc. increased its position in JFrog by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 4,344,802 shares of the company’s stock worth $117,092,000 after buying an additional 387,009 shares during the period. BlackRock Inc. increased its position in JFrog by 3.1% in the 4th quarter. BlackRock Inc. now owns 2,922,164 shares of the company’s stock worth $86,789,000 after buying an additional 88,376 shares during the period. Capital Research Global Investors increased its position in JFrog by 1,375.7% in the 4th quarter. Capital Research Global Investors now owns 2,632,599 shares of the company’s stock worth $78,188,000 after buying an additional 2,454,199 shares during the period. Finally, Spark Growth Management Partners II LLC bought a new position in JFrog in the 4th quarter worth approximately $62,826,000. 65.75% of the stock is currently owned by institutional investors and hedge funds.

JFrog Company Profile (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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