JFrog (NASDAQ:FROG) Issues FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of 0.540-0.560 for the period, compared to the consensus EPS estimate of 0.600. The company issued revenue guidance of $422.0 million-$424.0 million, compared to the consensus revenue estimate of $428.3 million.

JFrog Price Performance

Shares of NASDAQ FROG opened at $27.45 on Tuesday. The stock’s 50-day moving average is $34.35 and its two-hundred day moving average is $37.58. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -58.40 and a beta of 0.96.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FROG shares. KeyCorp lowered their price objective on JFrog from $46.00 to $30.00 and set an overweight rating for the company in a research report on Thursday, August 8th. Truist Financial decreased their price objective on JFrog from $50.00 to $30.00 and set a buy rating for the company in a research report on Thursday, August 8th. Bank of America decreased their price objective on JFrog from $54.00 to $44.00 and set a buy rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald cut their target price on JFrog from $45.00 to $35.00 and set an overweight rating for the company in a research note on Thursday, August 8th. Finally, Scotiabank cut their target price on JFrog from $40.00 to $25.00 and set a sector perform rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, JFrog currently has an average rating of Moderate Buy and an average price target of $38.00.

Insider Buying and Selling at JFrog

In other JFrog news, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total value of $1,356,250.00. Following the transaction, the director now directly owns 4,549,432 shares of the company’s stock, valued at $176,290,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Frederic Simon sold 35,000 shares of JFrog stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $38.75, for a total transaction of $1,356,250.00. Following the sale, the director now directly owns 4,549,432 shares of the company’s stock, valued at $176,290,490. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $25.68, for a total value of $385,200.00. Following the sale, the chief technology officer now directly owns 6,642,242 shares in the company, valued at $170,572,774.56. The disclosure for this sale can be found here. Insiders have sold 252,107 shares of company stock valued at $8,754,487 over the last three months. 15.70% of the stock is owned by company insiders.

About JFrog

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.