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.

JFrog Trading Up 0.4 %

Shares of NASDAQ FROG traded up $0.13 during midday trading on Friday, reaching $36.88. The company had a trading volume of 26,917 shares, compared to its average volume of 1,263,817. The business’s 50-day simple moving average is $35.28 and its 200 day simple moving average is $37.14. The stock has a market cap of $3.76 billion, a P/E ratio of -78.19 and a beta of 0.93. JFrog has a 1 year low of $21.38 and a 1 year high of $48.81.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $100.31 million for the quarter, compared to analyst estimates of $98.63 million. JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. Analysts predict that JFrog will post -0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FROG shares. Bank Of America (Bofa) raised their price target on shares of JFrog from $36.00 to $54.00 in a research report on Thursday, March 7th. Morgan Stanley dropped their target price on shares of JFrog from $52.00 to $47.00 and set an overweight rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reiterated a buy rating and issued a $45.00 target price on shares of JFrog in a research report on Tuesday. Truist Financial lifted their target price on shares of JFrog from $41.00 to $50.00 in a research report on Thursday, March 7th. Finally, FBN Securities assumed coverage on shares of JFrog in a research report on Wednesday, May 22nd. They issued an outperform rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $43.93.

Insiders Place Their Bets

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