FY2023 EPS Estimates for JFrog Ltd. (NASDAQ:FROG) Lifted by Analyst

JFrog Ltd. (NASDAQ:FROG) – Stock analysts at Cantor Fitzgerald lifted their FY2023 EPS estimates for shares of JFrog in a research note issued to investors on Thursday, November 2nd. Cantor Fitzgerald analyst J. Ruykhaver now forecasts that the company will post earnings of ($0.23) per share for the year, up from their previous forecast of ($0.36). The consensus estimate for JFrog’s current full-year earnings is ($0.34) per share. Cantor Fitzgerald also issued estimates for JFrog’s FY2024 earnings at ($0.31) EPS.

FROG has been the topic of several other research reports. DA Davidson lifted their target price on shares of JFrog from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Oppenheimer reaffirmed an “outperform” rating and set a $35.00 target price on shares of JFrog in a research note on Thursday, August 3rd. Needham & Company LLC lowered their target price on shares of JFrog from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday. William Blair upgraded JFrog from a “market perform” rating to an “outperform” rating in a report on Thursday, September 14th. Finally, JPMorgan Chase & Co. lifted their price target on JFrog from $29.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.73.

JFrog Stock Up 2.2 %

Shares of FROG opened at $26.83 on Monday. JFrog has a 52-week low of $17.11 and a 52-week high of $30.94. The firm’s fifty day moving average is $25.36 and its two-hundred day moving average is $25.46. The stock has a market cap of $2.73 billion, a PE ratio of -37.26 and a beta of 0.62.

Hedge Funds Weigh In On JFrog

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Silicon Valley Capital Partners grew its position in shares of JFrog by 4.8% during the first quarter. Silicon Valley Capital Partners now owns 10,958 shares of the company’s stock worth $216,000 after buying an additional 499 shares in the last quarter. State of Wyoming grew its position in shares of JFrog by 11.4% during the fourth quarter. State of Wyoming now owns 5,102 shares of the company’s stock worth $109,000 after buying an additional 523 shares in the last quarter. California State Teachers Retirement System grew its position in shares of JFrog by 1.9% during the first quarter. California State Teachers Retirement System now owns 44,051 shares of the company’s stock worth $868,000 after buying an additional 841 shares in the last quarter. US Bancorp DE grew its position in shares of JFrog by 84.9% during the second quarter. US Bancorp DE now owns 2,047 shares of the company’s stock worth $57,000 after buying an additional 940 shares in the last quarter. Finally, Wrapmanager Inc. grew its position in shares of JFrog by 8.6% during the first quarter. Wrapmanager Inc. now owns 15,515 shares of the company’s stock worth $306,000 after buying an additional 1,234 shares in the last quarter. 57.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other JFrog news, CEO Ben Haim Shlomi sold 45,860 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $23.11, for a total transaction of $1,059,824.60. Following the sale, the chief executive officer now directly owns 5,273,663 shares in the company, valued at $121,874,351.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JFrog news, CEO Ben Haim Shlomi sold 45,860 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $23.11, for a total transaction of $1,059,824.60. Following the sale, the chief executive officer now directly owns 5,273,663 shares in the company, valued at $121,874,351.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $23.81, for a total transaction of $833,350.00. Following the sale, the director now owns 5,054,432 shares in the company, valued at $120,346,025.92. The disclosure for this sale can be found here. Insiders have sold 287,431 shares of company stock worth $7,487,831 over the last three months. Company insiders own 30.60% of the company’s stock.

About JFrog

JFrog Ltd. provides DevOps platform in the United States, Israel, and internationally. 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 and continuous delivery tool for automating and orchestrating the movement of software packages; JFrog Xray, which scan JFrog Artifactory; JFrog Distribution that provides software package distribution with enterprise-grade performance; and JFrog Advanced Security, an binary scanning solution that offers secrets detection, contextual analysis, IaC scanning, container scanning, and others.