JFrog (NASDAQ:FROG) Issues FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.590-0.610 for the period, compared to the consensus earnings per share estimate of 0.600. The company issued revenue guidance of $425.5 million-$429.5 million, compared to the consensus revenue estimate of $428.3 million. JFrog also updated its Q2 2024 guidance to 0.130-0.150 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FROG. Cantor Fitzgerald raised their target price on shares of JFrog from $40.00 to $45.00 in a research report on Thursday, March 7th. Scotiabank decreased their target price on shares of JFrog from $45.00 to $40.00 and set a sector perform rating on the stock in a research report on Friday, May 10th. Bank Of America (Bofa) raised their price target on shares of JFrog from $36.00 to $54.00 in a report on Thursday, March 7th. Oppenheimer raised their price target on shares of JFrog from $41.00 to $48.00 in a report on Thursday, March 7th. Finally, UBS Group started coverage on shares of JFrog in a report on Wednesday, May 22nd. They issued a buy rating and a $41.00 price target on the stock. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $43.93.

JFrog Stock Up 0.4 %

Shares of FROG traded up $0.13 during mid-day trading on Friday, reaching $36.88. 26,917 shares of the stock traded hands, compared to its average volume of 1,263,817. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -78.19 and a beta of 0.93. The stock has a fifty day simple moving average of $35.28 and a 200 day simple moving average of $37.14. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. The company had revenue of $100.31 million for the quarter, compared to analyst estimates of $98.63 million. On average, equities research analysts expect that JFrog will post -0.21 earnings per share for the current fiscal year.

Insider Transactions at JFrog

In other news, CTO Yoav Landman sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $38.70, for a total transaction of $1,548,000.00. Following the completion of the sale, the chief technology officer now owns 6,731,371 shares of the company’s stock, valued at $260,504,057.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other JFrog news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction on Friday, June 7th. The shares were sold at an average price of $32.32, for a total value of $1,860,016.00. Following the completion of the transaction, the chief executive officer now owns 5,048,099 shares of the company’s stock, valued at $163,154,559.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Yoav Landman sold 40,000 shares of JFrog stock in a transaction on Friday, April 12th. The stock was sold at an average price of $38.70, for a total transaction of $1,548,000.00. Following the completion of the transaction, the chief technology officer now directly owns 6,731,371 shares of the company’s stock, valued at approximately $260,504,057.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,048 shares of company stock valued at $8,433,115. 15.70% of the stock is currently owned by corporate insiders.

JFrog Company Profile

JFrog Ltd. provides end-to-end hybrid software supply chain platform in the United States, Israel, India, and internationally. The company offers JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages; JFrog Curation that functions as a guardian outside the software development pipeline, controlling the admission of packages into an organization, primarily from open source or public repositories; JFrog Xray, which scans JFrog Artifactory to secure all software packages; JFrog Advanced Security, an optional add-on for select JFrog subscriptions; and JFrog Distribution that provides software package distribution.