Fintel reports that on May 22, 2024, UBS initiated coverage of JFrog (NasdaqGS:FROG) with a Buy recommendation.
Analyst Price Forecast Suggests 43.02% Upside
As of May 22, 2024, the average one-year price target for JFrog is 47.86. The forecasts range from a low of 40.40 to a high of $57.75. The average price target represents an increase of 43.02% from its latest reported closing price of 33.46.
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The projected annual revenue for JFrog is 464MM, an increase of 25.17%. The projected annual non-GAAP EPS is 0.20.
What is the Fund Sentiment?
There are 457 funds or institutions reporting positions in JFrog. This is an increase of 63 owner(s) or 15.99% in the last quarter. Average portfolio weight of all funds dedicated to FROG is 0.53%, an increase of 11.30%. Total shares owned by institutions increased in the last three months by 5.67% to 85,462K shares. 
The put/call ratio of FROG is 0.43, indicating a bullish outlook.
What are Other Shareholders Doing?
Optimus Prime Fund Management Co. holds 3,653K shares representing 3.37% ownership of the company. In its prior filing, the firm reported owning 2,823K shares , representing an increase of 22.72%. The firm increased its portfolio allocation in FROG by 32.32% over the last quarter.
Invesco holds 3,095K shares representing 2.86% ownership of the company. In its prior filing, the firm reported owning 2,509K shares , representing an increase of 18.93%. The firm decreased its portfolio allocation in FROG by 86.97% over the last quarter.
Voya Investment Management holds 2,531K shares representing 2.34% ownership of the company. In its prior filing, the firm reported owning 2,059K shares , representing an increase of 18.64%. The firm decreased its portfolio allocation in FROG by 29.18% over the last quarter.
Bank of New York Mellon holds 2,522K shares representing 2.33% ownership of the company. In its prior filing, the firm reported owning 3,663K shares , representing a decrease of 45.25%. The firm decreased its portfolio allocation in FROG by 90.80% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,508K shares representing 2.31% ownership of the company. In its prior filing, the firm reported owning 2,495K shares , representing an increase of 0.50%. The firm increased its portfolio allocation in FROG by 22.57% over the last quarter.
JFrog Background Information
(This description is provided by the company.)
JFrog is on a mission to enable continuous updates through liquid software, empowering developers to code high-quality applications that securely flow to end-users with zero downtime. JFrog is the creator of Artifactory, the heart of the end-to-end Universal DevOps platform for automating, managing, securing, distributing, and monitoring all types of technologies. JFrog products are available as open-source, on-premise, and on the cloud on AWS, Microsoft Azure, and Google Cloud. As a leading universal, highly available enterprise DevOps solution, the JFrog platform empowers customers with trusted and expedited software releases from code-to-production. JFrog is trusted by more than 5,600 customers, and top global brands depend on JFrog to manage their binaries for their mission-critical applications. JFrog is privately held with offices across North America, Europe, and Asia.
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This story originally appeared on Fintel.
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