JFrog rises on report saying co has attracted takeover interest

Jfrog

11/10/2024 14:24

** Shares of software tools maker JFrog  FROG.O  up 5.6% at
$31.37 before the bell
    ** FROG has attracted takeover interest from various private
equity firms including Permira and Hellman & Friedman, Bloomberg
News reported
    ** However, co's spokesperson denied any ongoing discussions
regarding takeover, the report added
    ** Based on Thursday's close, FROG has a market
capitalization of $3.28 billion, according to LSEG data
    ** FROG shares slid ~28% in a single session after it
lowered its annual revenue forecast on Aug. 7, citing a more
challenging macroeconomic environment
    ** 4 of the 20 brokerages rate the stock "strong buy", 13
"buy" and 3 "hold"; their median PT is $33 - LSEG data
    ** As of last close, FROG is down ~14% YTD


 (Reporting by Rishi Kant in Bengaluru)
 ((Rishi.Kant@thomsonreuters.com;))