Morgan Stanley Has Lowered Expectations for JFrog (NASDAQ:FROG) Stock Price

JFrog (NASDAQ:FROG) had its price objective reduced by Morgan Stanley from $44.00 to $39.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 25.48% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price target on shares of JFrog from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 price target on shares of JFrog in a report on Wednesday, February 12th. Needham & Company LLC increased 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. Canaccord Genuity Group lifted their target price on JFrog from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, DA Davidson lowered their price objective on shares of JFrog from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.71.

JFrog Stock Performance

Shares of NASDAQ:FROG opened at $31.08 on Wednesday. The company has a market capitalization of $3.56 billion, a PE ratio of -49.33 and a beta of 0.98. The stock has a fifty day moving average of $34.22 and a 200-day moving average of $32.32. JFrog has a one year low of $22.91 and a one year high of $43.00.

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

Insider Activity at JFrog

In other news, CEO Ben Haim Shlomi sold 17,775 shares of JFrog stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $30.04, for a total transaction of $533,961.00. Following the sale, the chief executive officer now directly owns 4,929,755 shares in the company, valued at approximately $148,089,840.20. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic Simon sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $28.66, for a total transaction of $573,200.00. Following the transaction, the director now owns 4,354,432 shares of the company’s stock, valued at approximately $124,798,021.12. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 429,104 shares of company stock worth $15,084,429. 15.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On JFrog

A number of hedge funds have recently modified their holdings of FROG. Harbor Capital Advisors Inc. grew its position in JFrog by 8.0% in the first quarter. Harbor Capital Advisors Inc. now owns 19,466 shares of the company’s stock valued at $623,000 after acquiring an additional 1,442 shares during the period. Park Avenue Securities LLC boosted its stake in shares of JFrog by 25.9% in the 1st quarter. Park Avenue Securities LLC now owns 8,750 shares of the company’s stock valued at $280,000 after purchasing an additional 1,801 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of JFrog by 10.7% in the 1st quarter. Procyon Advisors LLC now owns 11,347 shares of the company’s stock worth $363,000 after purchasing an additional 1,097 shares during the last quarter. IVC Wealth Advisors LLC acquired a new stake in shares of JFrog during the 1st quarter worth about $220,000. Finally, California State Teachers Retirement System lifted its holdings in JFrog by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 80,898 shares of the company’s stock valued at $2,379,000 after purchasing an additional 439 shares during the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

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.