JFrog (NASDAQ:FROG) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of JFrog (NASDAQ:FROG) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other analysts also recently issued reports on FROG. UBS Group set a $115.00 price target on shares of JFrog in a report on Friday, October 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $115.00 price objective on shares of JFrog in a research note on Wednesday, November 4th. Stifel Nicolaus set a $102.00 target price on JFrog in a research report on Friday, September 4th. Morgan Stanley raised their price target on JFrog from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Barclays restated an “overweight” rating and issued a $110.00 price target on shares of JFrog in a research report on Friday, August 7th. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, JFrog has an average rating of “Moderate Buy” and a consensus price target of $113.10.

JFrog Stock Up 2.7%

NASDAQ:FROG traded up $3.00 on Friday, reaching $113.60. 2,276,995 shares of the company’s stock traded hands, compared to its average volume of 2,392,486. The stock has a 50-day simple moving average of $94.87 and a 200-day simple moving average of $73.87. The firm has a market cap of $14.16 billion, a PE ratio of -631.11 and a beta of 1.31. JFrog has a 12 month low of $34.05 and a 12 month high of $114.44.

JFrog (NASDAQ:FROG) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. JFrog had a negative return on equity of 1.55% and a negative net margin of 3.29%. The business had revenue of $179.17 million for the quarter, compared to the consensus estimate of $165.92 million. During the same period in the previous year, the business earned $0.22 earnings per share. The business’s revenue was up 30.9% on a year-over-year basis. On average, equities analysts anticipate that JFrog will post -0.09 earnings per share for the current year.

Insider Buying and Selling at JFrog

In other news, Director Frederic Simon sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $97.24, for a total transaction of $11,668,800.00. Following the transaction, the director directly owned 2,744,328 shares of the company’s stock, valued at approximately $266,858,454.72. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Tali Notman sold 18,794 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $86.98, for a total value of $1,634,702.12. Following the transaction, the executive owned 668,678 shares in the company, valued at $58,161,612.44. The trade was a 2.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 735,453 shares of company stock valued at $70,307,366. 11.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in JFrog by 2.7% during the third quarter. First Trust Advisors LP now owns 3,831,588 shares of the company’s stock valued at $371,817,000 after buying an additional 99,218 shares during the period. Bank of America Corp DE lifted its position in JFrog by 48.2% during the 1st quarter. Bank of America Corp DE now owns 2,517,899 shares of the company’s stock worth $118,165,000 after acquiring an additional 819,326 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in JFrog by 78.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,964,925 shares of the company’s stock valued at $92,214,000 after buying an additional 861,835 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of JFrog by 41.9% in the first quarter. Lazard Asset Management LLC now owns 1,716,050 shares of the company’s stock worth $80,534,000 after acquiring an additional 506,366 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of JFrog by 25.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,539,979 shares of the company’s stock valued at $72,271,000 after buying an additional 310,068 shares during the last quarter. Hedge funds and other institutional investors own 85.02% of the company’s stock.

About JFrog

JFrog Ltd. develops software delivery and supply-chain tools for organizations building and deploying applications. Its platform helps teams manage software packages and other binary artifacts throughout the development lifecycle, from creation and testing to distribution and deployment. Its products include JFrog Artifactory, a repository manager for storing and managing software artifacts, and JFrog Xray, which scans software components for security vulnerabilities and policy issues. The broader platform also offers tools for continuous integration and delivery, software distribution, and software supply-chain security, and can be deployed in cloud, on-premises, or hybrid environments.