UBS Group Begins Coverage on JFrog (NASDAQ:FROG)

Investment analysts at UBS Group started coverage on shares of JFrog (NASDAQ:FROG) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $41.00 price target on the stock. UBS Group’s price objective would indicate a potential upside of 26.39% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Morgan Stanley decreased their price target on JFrog from $52.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Truist Financial lifted their price objective on shares of JFrog from $41.00 to $50.00 in a research note on Thursday, March 7th. KeyCorp cut their price objective on shares of JFrog from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. DA Davidson lifted their price target on JFrog from $45.00 to $55.00 in a research note on Thursday, March 7th. Finally, Scotiabank lowered their target price on JFrog from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.57.

JFrog Price Performance

Shares of FROG stock opened at $32.44 on Wednesday. The company has a 50-day moving average of $40.09 and a two-hundred day moving average of $36.15. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81. The firm has a market cap of $3.30 billion, a PE ratio of -69.02 and a beta of 1.01.

JFrog (NASDAQ:FROG) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $100.31 million for the quarter, compared to analysts’ expectations of $98.63 million. JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. Sell-side analysts anticipate that JFrog will post -0.21 EPS for the current fiscal year.

Insider Transactions at JFrog

In related news, CFO Eduard Grabscheid sold 605 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $26,553.45. Following the completion of the sale, the chief financial officer now directly owns 85,565 shares in the company, valued at approximately $3,755,447.85. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Eduard Grabscheid sold 605 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $26,553.45. Following the completion of the transaction, the chief financial officer now directly owns 85,565 shares in the company, valued at approximately $3,755,447.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 32,724 shares of the stock in a transaction that occurred 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 approximately $218,892,597. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,455 shares of company stock worth $9,067,444. 15.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On JFrog

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in JFrog by 28.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,050 shares of the company’s stock valued at $306,000 after buying an additional 2,643 shares during the period. Black Swift Group LLC purchased a new position in JFrog during the third quarter worth approximately $254,000. Victory Capital Management Inc. acquired a new stake in JFrog during the 3rd quarter valued at $214,000. Arizona State Retirement System boosted its holdings in shares of JFrog by 9.2% in the 3rd quarter. Arizona State Retirement System now owns 20,306 shares of the company’s stock valued at $515,000 after buying an additional 1,713 shares during the period. Finally, Jump Financial LLC raised its position in shares of JFrog by 136.3% during the 3rd quarter. Jump Financial LLC now owns 94,200 shares of the company’s stock worth $2,389,000 after buying an additional 54,341 shares in the last quarter. 85.02% of the stock is owned by institutional investors and hedge funds.

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.