Morgan Stanley Trims JFrog (NASDAQ:FROG) Target Price to $47.00

JFrog (NASDAQ:FROG) had its price objective cut by analysts at Morgan Stanley from $52.00 to $47.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 40.97% from the stock’s current price.

A number of other research analysts also recently commented on FROG. Needham & Company LLC reduced their price target on JFrog from $55.00 to $45.00 and set a “buy” rating for the company in a report on Friday. Oppenheimer increased their target price on JFrog from $41.00 to $48.00 in a report on Thursday, March 7th. Truist Financial increased their target price on JFrog from $41.00 to $50.00 in a report on Thursday, March 7th. Scotiabank initiated coverage on JFrog in a report on Thursday, March 7th. They set a “buy” rating on the stock. Finally, DA Davidson increased their target price on JFrog from $45.00 to $55.00 in a report on Thursday, March 7th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, JFrog currently has an average rating of “Moderate Buy” and an average price target of $42.31.

JFrog Stock Performance

Shares of FROG stock traded down $7.28 during trading hours on Friday, reaching $33.34. The company had a trading volume of 5,261,233 shares, compared to its average volume of 1,220,669. JFrog has a twelve month low of $21.38 and a twelve month high of $48.81. The company has a market capitalization of $3.40 billion, a P/E ratio of -55.33 and a beta of 1.01. The stock’s fifty day simple moving average is $41.62 and its 200 day simple moving average is $35.40.

JFrog (NASDAQ:FROG) last posted its earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. The business had revenue of $100.31 million during the quarter, compared to analyst estimates of $98.63 million. As a group, equities analysts expect that JFrog will post -0.21 earnings per share for the current year.

Insider Activity

In other news, CTO Yoav Landman sold 110,000 shares of JFrog stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $47.28, for a total transaction of $5,200,800.00. Following the transaction, the chief technology officer now directly owns 6,811,371 shares in the company, valued at approximately $322,041,620.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Ben Haim Shlomi sold 32,724 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $1,436,256.36. Following the completion of the sale, the chief executive officer now owns 4,987,300 shares of the company’s stock, valued at $218,892,597. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Yoav Landman sold 110,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $47.28, for a total value of $5,200,800.00. Following the completion of the sale, the chief technology officer now directly owns 6,811,371 shares of the company’s stock, valued at approximately $322,041,620.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 501,355 shares of company stock worth $22,340,017. 15.70% of the stock is owned by company insiders.

Institutional Trading of JFrog

A number of institutional investors have recently bought and sold shares of FROG. Vanguard Group Inc. raised its holdings in JFrog by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,055,519 shares of the company’s stock valued at $244,192,000 after buying an additional 23,030 shares in the last quarter. Praesidium Investment Management Company LLC boosted its holdings in JFrog by 6.5% during the fourth quarter. Praesidium Investment Management Company LLC now owns 1,943,381 shares of the company’s stock valued at $67,260,000 after purchasing an additional 118,473 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of JFrog by 6.3% in the 3rd quarter. William Blair Investment Management LLC now owns 1,733,639 shares of the company’s stock worth $43,965,000 after acquiring an additional 102,561 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of JFrog by 4.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,722,312 shares of the company’s stock worth $76,160,000 after acquiring an additional 73,036 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of JFrog by 10.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,575,867 shares of the company’s stock worth $54,542,000 after acquiring an additional 145,465 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.

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.