Cantor Fitzgerald Reiterates “Overweight” Rating for JFrog (NASDAQ:FROG)

JFrog (NASDAQ:FROG)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research report issued on Wednesday, Marketbeat.com reports. They presently have a $80.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 67.89% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. TD Cowen restated a “buy” rating on shares of JFrog in a research note on Friday, October 17th. Morgan Stanley upped their target price on JFrog from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group increased their price target on JFrog from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Truist Financial reaffirmed a “buy” rating and set a $70.00 price target (up previously from $55.00) on shares of JFrog in a research report on Friday, November 7th. Finally, UBS Group reiterated a “neutral” rating on shares of JFrog in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.71.

JFrog Stock Down 8.4%

Shares of FROG opened at $47.65 on Wednesday. JFrog has a twelve month low of $27.00 and a twelve month high of $70.43. The stock has a market capitalization of $5.64 billion, a P/E ratio of -68.07 and a beta of 1.13. The company has a 50 day moving average of $61.14 and a 200-day moving average of $53.20.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $136.91 million for the quarter, compared to analyst estimates of $128.28 million. JFrog had a negative net margin of 15.88% and a negative return on equity of 6.69%. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, sell-side analysts anticipate that JFrog will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JFrog news, CTO Yoav Landman sold 45,000 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $57.71, for a total transaction of $2,596,950.00. Following the completion of the sale, the chief technology officer owned 5,868,641 shares of the company’s stock, valued at $338,679,272.11. This trade represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederic Simon sold 80,000 shares of JFrog stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $59.51, for a total transaction of $4,760,800.00. Following the transaction, the director directly owned 3,660,786 shares of the company’s stock, valued at approximately $217,853,374.86. This trade represents a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 382,814 shares of company stock valued at $23,671,260. Insiders own 14.10% of the company’s stock.

Institutional Trading of JFrog

A number of hedge funds have recently modified their holdings of FROG. Arrowstreet Capital Limited Partnership boosted its holdings in JFrog by 3,033.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 291,134 shares of the company’s stock valued at $12,775,000 after purchasing an additional 281,844 shares during the period. Federated Hermes Inc. bought a new stake in shares of JFrog in the third quarter valued at approximately $6,697,000. Sound View Wealth Advisors Group LLC acquired a new stake in JFrog during the second quarter worth approximately $233,000. Lisanti Capital Growth LLC increased its stake in JFrog by 10.2% during the 2nd quarter. Lisanti Capital Growth LLC now owns 110,195 shares of the company’s stock worth $4,835,000 after acquiring an additional 10,230 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in JFrog by 5.4% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 976,812 shares of the company’s stock worth $42,863,000 after acquiring an additional 50,000 shares during the period. Institutional investors and hedge funds own 85.02% of the company’s stock.

About JFrog

JFrog is a software company specializing in DevOps solutions designed to streamline the management, distribution and security of software binaries. Its core offering, JFrog Artifactory, serves as a universal artifact repository manager compatible with all major package formats, enabling development teams to store, version and share build artifacts across the software delivery pipeline. The company’s platform also includes tools for continuous integration and delivery (CI/CD), security scanning and release automation.

Among JFrog’s flagship products are JFrog Xray, a security and compliance scanning service that analyzes artifacts and dependencies for vulnerabilities; JFrog Pipelines, a CI/CD orchestration engine that automates build and release workflows; and JFrog Distribution, which accelerates the secure distribution of software releases to edge nodes and end users.