JFrog (NASDAQ:FROG) Rating Increased to Buy at Zacks Investment Research

JFrog (NASDAQ:FROGGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $27.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 19.10% from the stock’s current price.

According to Zacks, “JFrog Ltd operates as a software development company. Its products are available as open-source, self-managed, SaaS services on AWS, Microsoft Azure and Google Cloud. The company operates principally in North America, Europe and Asia. JFrog Ltd is based in Calif., United States. “

Several other research analysts have also recently issued reports on FROG. KeyCorp began coverage on shares of JFrog in a report on Wednesday, December 22nd. They issued a “sector weight” rating for the company. Needham & Company LLC decreased their price target on JFrog from $71.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, February 9th. Piper Sandler reduced their target price on JFrog from $44.00 to $32.00 in a research note on Thursday, January 6th. Morgan Stanley reduced their target price on JFrog from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, February 14th. Finally, Oppenheimer reduced their target price on JFrog from $55.00 to $45.00 in a research note on Friday, February 11th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, JFrog presently has an average rating of “Buy” and an average price target of $41.00.

Shares of FROG opened at $22.67 on Thursday. JFrog has a fifty-two week low of $21.06 and a fifty-two week high of $53.51. The firm’s 50 day moving average price is $24.55 and its 200 day moving average price is $28.62. The company has a market cap of $2.09 billion, a P/E ratio of -33.84 and a beta of 0.63.

JFrog (NASDAQ:FROGGet Rating) last posted its quarterly earnings results on Thursday, February 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). JFrog had a negative return on equity of 8.23% and a negative net margin of 31.06%. The firm had revenue of $59.20 million for the quarter, compared to analyst estimates of $58.04 million. During the same quarter last year, the firm earned ($0.04) EPS. The company’s revenue was up 38.6% on a year-over-year basis. As a group, research analysts predict that JFrog will post -0.51 earnings per share for the current year.

In related news, CRO Tali Notman sold 15,000 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $23.96, for a total value of $359,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Yakov (Jacob) Shulman sold 6,000 shares of the company’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $24.46, for a total transaction of $146,760.00. Following the completion of the transaction, the chief financial officer now directly owns 320,922 shares of the company’s stock, valued at $7,849,752.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,074 shares of company stock valued at $1,703,224. Insiders own 38.30% of the company’s stock.

Large investors have recently bought and sold shares of the business. Allworth Financial LP acquired a new stake in JFrog during the third quarter worth about $26,000. Penserra Capital Management LLC acquired a new stake in shares of JFrog in the third quarter valued at approximately $60,000. EMC Capital Management increased its stake in shares of JFrog by 100.0% during the third quarter. EMC Capital Management now owns 2,000 shares of the company’s stock valued at $65,000 after acquiring an additional 1,000 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of JFrog by 21.8% during the third quarter. Advisor Group Holdings Inc. now owns 3,026 shares of the company’s stock valued at $102,000 after acquiring an additional 542 shares during the period. Finally, Advisors Asset Management Inc. acquired a new position in shares of JFrog during the fourth quarter valued at approximately $104,000. 63.07% of the stock is owned by institutional investors.

JFrog Company Profile (Get Rating)

JFrog Ltd. provides DevOps platform in the United States. 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/continuous delivery tool for automating and orchestrating the movement of software packages; JFrog Xray, which scan JFrog Artifactory; and JFrog Distribution that provides software package distribution with enterprise-grade performance.

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