JFrog (NASDAQ:FROG) Releases FY24 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.59-0.61 for the period, compared to the consensus estimate of $0.60. The company issued revenue guidance of $425.5-429.5 million, compared to the consensus revenue estimate of $426.88 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

JFrog Price Performance

Shares of FROG opened at $40.62 on Friday. The firm has a market capitalization of $4.14 billion, a PE ratio of -67.70 and a beta of 1.01. The company’s fifty day moving average price is $41.70 and its 200-day moving average price is $35.36. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $100.31 million for the quarter, compared to the consensus estimate of $98.63 million. JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. As a group, research analysts anticipate that JFrog will post -0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FROG has been the subject of a number of recent research reports. Oppenheimer raised their price target on shares of JFrog from $41.00 to $48.00 in a research report on Thursday, March 7th. KeyCorp started coverage on shares of JFrog in a research report on Tuesday, March 19th. They set an overweight rating and a $52.00 target price for the company. DA Davidson increased their price target on JFrog from $45.00 to $55.00 in a research report on Thursday, March 7th. Truist Financial boosted their price objective on JFrog from $41.00 to $50.00 in a report on Thursday, March 7th. Finally, Bank Of America (Bofa) raised their target price on JFrog from $36.00 to $54.00 in a report on Thursday, March 7th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, JFrog presently has a consensus rating of Moderate Buy and a consensus target price of $42.69.

Insider Activity

In other news, Director Frederic Simon sold 150,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $47.27, for a total transaction of $7,090,500.00. Following the transaction, the director now owns 4,759,432 shares in the company, valued at approximately $224,978,350.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other JFrog news, Director Frederic Simon sold 150,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $47.27, for a total transaction of $7,090,500.00. Following the completion of the transaction, the director now directly owns 4,759,432 shares in the company, valued at $224,978,350.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Yoav Landman sold 40,000 shares of JFrog stock in a transaction dated 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 in the company, valued at approximately $260,504,057.70. The disclosure for this sale can be found here. Insiders sold 501,355 shares of company stock worth $22,340,017 over the last three months. 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.