JFrog (NASDAQ:FROG) Updates FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.590-0.610 for the period, compared to the consensus estimate of 0.600. The company issued revenue guidance of $425.5 million-$429.5 million, compared to the consensus revenue estimate of $426.9 million. JFrog also updated its FY24 guidance to $0.59-0.61 EPS.

JFrog Stock Performance

JFrog stock traded down $0.12 during mid-day trading on Thursday, reaching $40.62. 1,723,063 shares of the company were exchanged, compared to its average volume of 1,176,414. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The firm has a market cap of $4.14 billion, a P/E ratio of -67.70 and a beta of 1.01. The business has a fifty day moving average of $41.70 and a 200 day moving average of $35.36.

JFrog (NASDAQ:FROG) last released its earnings results on Wednesday, February 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. The firm had revenue of $97.26 million for the quarter, compared to the consensus estimate of $93.07 million. Sell-side analysts predict that JFrog will post -0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Scotiabank initiated coverage on JFrog in a research report on Thursday, March 7th. They set a buy rating on the stock. Morgan Stanley lifted their price target on shares of JFrog from $40.00 to $52.00 in a research note on Thursday, March 7th. KeyCorp assumed coverage on shares of JFrog in a report on Tuesday, March 19th. They set an overweight rating and a $52.00 price objective on the stock. Cantor Fitzgerald raised their price target on shares of JFrog from $40.00 to $45.00 in a research note on Thursday, March 7th. Finally, Oppenheimer boosted their price objective on JFrog from $41.00 to $48.00 in a research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JFrog presently has a consensus rating of Moderate Buy and an average price target of $43.46.

Insider Transactions at JFrog

In other news, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $38.97, for a total value of $1,363,950.00. Following the completion of the sale, the director now owns 4,654,432 shares of the company’s stock, valued at approximately $181,383,215.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other JFrog news, CTO Yoav Landman sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $47.28, for a total value of $5,200,800.00. Following the sale, the chief technology officer now owns 6,811,371 shares of the company’s stock, valued at $322,041,620.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederic Simon sold 35,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $38.97, for a total value of $1,363,950.00. Following the transaction, the director now owns 4,654,432 shares of the company’s stock, valued at $181,383,215.04. The disclosure for this sale can be found here. Insiders have sold a total of 501,355 shares of company stock worth $22,340,017 in the last quarter. Company insiders own 15.70% of the company’s stock.

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.