JFrog (NASDAQ:FROG) Releases FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its FY 2024 earnings guidance on Friday morning. 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 $428.3 million. JFrog also updated its Q2 2024 guidance to 0.130-0.150 EPS.

Analysts Set New Price Targets

FROG has been the subject of several analyst reports. Needham & Company LLC reissued a buy rating and set a $45.00 price target on shares of JFrog in a research report on Tuesday, June 25th. DA Davidson raised their target price on shares of JFrog from $45.00 to $55.00 in a research note on Thursday, March 7th. Cantor Fitzgerald lifted their price target on shares of JFrog from $40.00 to $45.00 in a report on Thursday, March 7th. Truist Financial upped their target price on JFrog from $41.00 to $50.00 in a research report on Thursday, March 7th. Finally, FBN Securities initiated coverage on JFrog in a research report on Wednesday, May 22nd. They issued an outperform rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $43.93.

JFrog Stock Up 2.2 %

FROG opened at $37.55 on Monday. The firm’s fifty day simple moving average is $35.28 and its two-hundred day simple moving average is $37.29. JFrog has a 52-week low of $21.38 and a 52-week high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share 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 firm had revenue of $100.31 million for the quarter, compared to analyst estimates of $98.63 million. Equities research analysts expect that JFrog will post -0.21 EPS for the current year.

Insider Buying and Selling

In other JFrog news, CEO Ben Haim Shlomi sold 57,550 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the transaction, the chief executive officer now owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CRO Tali Notman sold 6,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $42.60, for a total value of $255,600.00. Following the completion of the sale, the executive now owns 522,348 shares of the company’s stock, valued at $22,252,024.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the transaction, the chief executive officer now owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,048 shares of company stock worth $8,433,115. 15.70% of the stock is owned by corporate 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.