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SUNNYVALE, CA—In a recent transaction disclosed by JFrog Ltd (NASDAQ:FROG), Chief Revenue Officer Notman Tali sold 10,831 ordinary shares of the company, amounting to a total of $360,563. The sales were executed on March 10 at a weighted average price of $33.29 per share, with individual transaction prices ranging from $32.85 to $33.81. The transaction comes as JFrog’s stock has experienced an 8.88% decline over the past week, though it maintains impressive gross margins of 77% according to InvestingPro data.
Following this sale, Tali retains ownership of 734,072 shares in the company. The transaction was conducted under a Rule 10b5-1 trading plan, which Tali adopted on March 7, 2024. This plan allows company insiders to set up a predetermined schedule for buying or selling stocks to avoid potential conflicts of interest. With a market capitalization of $3.78 billion and analyst price targets ranging from $33.71 to $50, InvestingPro analysis suggests JFrog is currently undervalued, with 13 analysts recently revising their earnings expectations upward. Discover more insights about JFrog and 1,400+ other stocks through InvestingPro’s comprehensive research reports.
In other recent news, JFrog Ltd. announced its fourth-quarter results, reporting adjusted earnings per share of $0.19, exceeding the consensus estimate of $0.14. The company’s revenue reached $116.1 million, surpassing Wall Street’s forecast of $114.25 million, with a 19% year-over-year increase. JFrog’s cloud revenue, a significant growth factor, rose 37% year-over-year to $49.4 million, now making up 43% of total revenue. Additionally, JFrog unveiled a new collaboration with NVIDIA (NASDAQ:NVDA), integrating NVIDIA’s NIM microservices to enhance the deployment of AI and machine learning models with improved security and efficiency.
Analysts have shown optimism regarding JFrog’s future performance. DA Davidson raised its price target for JFrog to $50, citing the company’s cloud migrations and enterprise investments as key growth drivers. Needham also increased its price target to $46, noting JFrog’s strong quarterly results and robust growth in cloud revenue. Cantor Fitzgerald followed suit, raising its price target to $46 and highlighting JFrog’s impressive fourth-quarter results, which exceeded the FactSet consensus in revenue, earnings per share, and free cash flow. These developments indicate a positive outlook for JFrog as it continues to expand its market presence and enhance its offerings.
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