Fintel reports that on September 14, 2023, Needham reiterated coverage of JFrog (NASDAQ:FROG) with a Buy recommendation.
Analyst Price Forecast Suggests 24.85% Upside
As of August 31, 2023, the average one-year price target for JFrog is 34.78. The forecasts range from a low of 30.30 to a high of $42.00. The average price target represents an increase of 24.85% from its latest reported closing price of 27.86.
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The projected annual revenue for JFrog is 366MM, an increase of 17.05%. The projected annual non-GAAP EPS is 0.09.
What is the Fund Sentiment?
There are 299 funds or institutions reporting positions in JFrog. This is a decrease of 4 owner(s) or 1.32% in the last quarter. Average portfolio weight of all funds dedicated to FROG is 0.39%, a decrease of 21.22%. Total shares owned by institutions decreased in the last three months by 7.19% to 66,897K shares. 
The put/call ratio of FROG is 0.17, indicating a bullish outlook.
What are Other Shareholders Doing?
Insight Holdings Group holds 3,190K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 5,022K shares, representing a decrease of 57.41%. The firm decreased its portfolio allocation in FROG by 8.35% over the last quarter.
Eminence Capital holds 3,157K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 4,093K shares, representing a decrease of 29.62%. The firm increased its portfolio allocation in FROG by 0.24% over the last quarter.
Wasatch Advisors holds 3,123K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 3,262K shares, representing a decrease of 4.46%. The firm increased its portfolio allocation in FROG by 30.90% over the last quarter.
Bank of New York Mellon holds 2,668K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 2,693K shares, representing a decrease of 0.90%. The firm increased its portfolio allocation in FROG by 27.64% over the last quarter.
Grandeur Peak Global Advisors holds 2,385K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 1,831K shares, representing an increase of 23.20%. The firm increased its portfolio allocation in FROG by 104.66% 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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