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SUNNYVALE, Calif.—JFrog Ltd (NASDAQ:FROG), a software company with impressive gross profit margins of 78% and strong financial health according to InvestingPro, reported that CEO Shlomi Ben Haim recently sold 17,775 ordinary shares of the company, according to a filing with the Securities and Exchange Commission. The shares were sold at an average price of $36.73, totaling approximately $652,875. This transaction was conducted under a prearranged Rule 10b5-1 trading plan, which Ben Haim adopted on February 28, 2024. Following this sale, Ben Haim retains direct ownership of 4,866,809 shares in the software company, which has seen its stock surge nearly 40% over the past six months. The transaction was executed in multiple trades with prices ranging from $36.51 to $37.10. With earnings due in two days and multiple analysts revising their estimates upward, investors can access comprehensive analysis and additional insights through InvestingPro’s detailed research report.
In other recent news, JFrog’s revenue was positively impacted by an increase in Self-Managed pricing for the fourth consecutive year, accounting for 61% of the company’s revenue in the third quarter of 2024. Needham, an analyst firm, raised its price target for JFrog from $36.00 to $39.00, maintaining a Buy rating. The firm believes that JFrog’s pricing strategy could boost the growth of its Self-Managed offerings and encourage customers to upgrade from Pro X to Enterprise X.
On a similar note, Barclays (LON:BARC) analyst Ryan MacWilliams noted that recent price increases on JFrog’s self-hosted Pro X and Enterprise X tiers could add at least $10 million to JFrog’s self-hosted revenues in fiscal year 2025. Barclays maintains an overweight rating on the stock with a price target of $38.
However, both Needham and Barclays analysts have warned investors about potential near-term volatility while awaiting JFrog’s initial guidance for the 2025 calendar year. Despite potential short-term fluctuations, both firms are optimistic about JFrog’s long-term prospects, citing the expansion of JFrog’s platform to include Security and MLOps as contributing factors to the company’s longer-term growth. These are recent developments in the company’s trajectory.
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