It was announced in a research note that was distributed on Tuesday, January 3, by Oppenheimer that they reduced their projections for Jfrog Limited’s (NASDAQ: FROG) earnings per share for the fourth quarter of 2023. Oppenheimer analyst I. Kidron forecasts the company will earn $0.15 per share for the quarter, a decrease from the earlier projection of $0.14 per share earnings. Based on the company’s projections, the current estimate places JFrog’s profits for the entire year at $0.62 per share.
On November 2, JFrog (NASDAQ: FROG) released its most recent quarterly earnings report. The company reported actual earnings per share of $0.19 for the quarter, which was $0.07 lower than the consensus estimate of $0.12 per share. The net margin for JFrog was in the red by 34.15 percent, and the company’s return on equity was also in the red by 10.12 percent. The company’s most recent quarter’s sales came in at $71.99 million, which is a significant increase over the consensus projection of $71.08 million in sales for the same period.
On Thursday, FROG stock was introduced to the market for $22.43 per share.
The current price of JFrog represents a one-year high of $30.08, while the current price of JFrog represents a one-year low of $16.36. In addition, the company’s simple moving average over the past fifty days is $22.30, and the simple moving average over the past 200 days is $22.38, respectively.
Other analysts have only recently published their reports on the company under discussion. The first research report that Truist Financial would cover about JFrog was published on September 30 and was called the “JFrog Research Report.” They recommended that the company “buy” the stock and establish a price objective of $30.00. The price target that Needham & Firm LLC has set for JFrog has been reduced from $30.00 to $28.00, and a “buy” recommendation has been issued for the company in a research report published on Thursday, November 3. In a research note released on Wednesday, Bank of America increased its price target for JFrog from $28.00 to $32.00.
The company’s rating was also changed from “neutral” to “buy.” Morgan Stanley rated the stock of JFrog as “equal weight” in a research report published on Thursday, October 20. Additionally, the firm decreased its target price for the company’s stock from $28.00 to $26.00 during the same period. JPMorgan Chase & Co. lowered their target price on JFrog from $29.00 to $28.00 and rated the stock as “overweight” in a research note published on Thursday, November 3. There have been seven analysts who have suggested that investors acquire the stock, while there has been only one analyst who has suggested that investors keep their existing holdings of the stock. The website Bloomberg.com reports that the typical recommendation for the company is a “Moderate Buy” and that the price at which it is anticipated to reach consensus is $29.40.
As a result of recent happenings, several large investors have altered the proportion of the company’s stock they currently hold in their portfolios. During the second quarter, Van ECK Associates Corporation achieved a 4.6% increase in the proportion of JFrog stock it owned. As a result, Van ECK Associates Corp. has increased its holdings in the company’s stock by 855, bringing the total number of shares they own to 19,445 with an associated value of $410,000. During the second quarter, Laurion Capital Management LP made a 6.3% purchase of additional JFrog stock, bringing the total amount of the company’s holdings to 93.9%. Laurion Capital Management LP is now the owner of 15,951 shares, valued at $336,000, after acquiring an additional 950 shares during the period in question. During the second quarter, Lazard Asset Management LLC achieved a 98.6% increase in the proportion of JFrog stock it owned. After purchasing an additional 1,104 shares during the preceding period, Lazard Asset Management LLC now has a total of 2,224 shares of the company, which are currently valued at $46,000. During the third quarter, Brinker Capital Investments LLC was able to amass an additional 3.6% of JFrog stock, bringing the total percentage of the company’s holdings to 100%. Brinker Capital Investments LLC now holds 33,146 shares of the company’s stock following the purchase of an additional 1,156 shares during the period. The value of the company’s stock contributes to a total of $733,000 for the holdings of Brinker Capital Investments LLC. Lastly, but certainly not least, the California State Teachers Retirement System increased the amount of JFrog stock that it held by 2.9% during the third quarter. The California State Teachers Retirement System now holds 42,507 shares of the company’s stock following the acquisition of an additional 1,200 shares during the period in question. These 42,507 shares have a combined value of $940,000 because they were purchased. Institutional investors and hedge funds collectively own 53.34 percent of the total number of shares in the company, making up the majority of the shareholders.
Frederic Simon, who serves as director of the company, sold 45,000 shares of the company’s stock on Wednesday, October 19. This was one of the more significant occurrences that took place. Revenue was generated from the sale of 1,029,600 shares of the company’s stock, purchased at an average price of $22.88 per share. Following the completion of the transaction, the director will have a total of 5,612,134 shares in the company. These shares have an estimated market value of $128,40

The post JFrog Ltd. (NASDAQ:FROG) is expected to earn $0.15 per share in the fourth quarter of 2023. appeared first on Best Stocks.