Brokerages Set JFrog Ltd. (NASDAQ:FROG) Price Target at $37.72

JFrog Ltd. (NASDAQ:FROG) has received an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $37.72.

A number of equities analysts recently commented on the company. Oppenheimer downgraded JFrog from an “outperform” rating to a “market perform” rating in a report on Thursday, August 8th. Morgan Stanley dropped their price objective on JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Piper Sandler dropped their price objective on JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. TD Cowen increased their price objective on JFrog from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Canaccord Genuity Group dropped their price objective on JFrog from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Insider Activity

In related news, CEO Ben Haim Shlomi sold 35,550 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total value of $1,066,500.00. Following the completion of the transaction, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at $149,256,870. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eduard Grabscheid sold 834 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $30.60, for a total value of $25,520.40. Following the completion of the transaction, the chief financial officer now directly owns 97,260 shares of the company’s stock, valued at approximately $2,976,156. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,891 shares of company stock valued at $5,385,533. 15.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in JFrog during the third quarter worth $29,000. Advisors Asset Management Inc. raised its stake in JFrog by 33.9% during the first quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock worth $116,000 after acquiring an additional 662 shares in the last quarter. West Tower Group LLC acquired a new position in JFrog during the third quarter worth $116,000. SG Americas Securities LLC acquired a new position in JFrog during the second quarter worth $187,000. Finally, Sanctuary Advisors LLC acquired a new position in JFrog during the second quarter worth $188,000. 85.02% of the stock is owned by institutional investors.

JFrog Price Performance

NASDAQ:FROG opened at $32.05 on Thursday. JFrog has a fifty-two week low of $22.91 and a fifty-two week high of $48.81. The stock’s 50-day moving average is $30.24 and its two-hundred day moving average is $31.47. The stock has a market cap of $3.27 billion, a PE ratio of -60.47 and a beta of 0.94.

About JFrog

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.