JFrog (NASDAQ:FROG) Updates FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.590-0.610 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of $425.9 million-$426.9 million, compared to the consensus revenue estimate of $423.0 million. JFrog also updated its Q4 guidance to $0.13-0.15 EPS.

JFrog Price Performance

Shares of FROG traded up $1.14 during trading hours on Thursday, hitting $32.86. 2,027,089 shares of the stock were exchanged, compared to its average volume of 1,270,889. JFrog has a fifty-two week low of $22.91 and a fifty-two week high of $48.81. The business has a 50-day moving average of $28.97 and a 200-day moving average of $32.44. The firm has a market capitalization of $3.35 billion, a P/E ratio of -73.29 and a beta of 0.93.

JFrog (NASDAQ:FROG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The firm had revenue of $103.04 million for the quarter, compared to analyst estimates of $103.53 million. JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. As a group, analysts forecast that JFrog will post -0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on FROG. Morgan Stanley cut their target price on shares of JFrog from $47.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. DA Davidson reaffirmed a “buy” rating and issued a $40.00 price objective on shares of JFrog in a research note on Monday, October 14th. Scotiabank dropped their price objective on shares of JFrog from $40.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Truist Financial raised their price objective on shares of JFrog from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Baird R W raised shares of JFrog to a “strong-buy” rating in a research note on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.61.

Insider Buying and Selling

In related news, CEO Ben Haim Shlomi sold 35,550 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the sale, the chief executive officer now owns 4,975,229 shares in the company, valued at approximately $149,256,870. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Yoav Landman sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $30.85, for a total value of $462,750.00. Following the sale, the chief technology officer now owns 6,612,242 shares of the company’s stock, valued at $203,987,665.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ben Haim Shlomi sold 35,550 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the sale, the chief executive officer now directly owns 4,975,229 shares in the company, valued at approximately $149,256,870. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,031 shares of company stock worth $4,003,447. 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.