JFrog (NASDAQ:FROG) Releases FY24 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY24 earnings guidance on Tuesday. 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 $428.33 million. JFrog also updated its Q2 guidance to $0.13-0.15 EPS.

Wall Street Analyst Weigh In

FROG has been the subject of several research reports. DA Davidson upped their price target on shares of JFrog from $45.00 to $55.00 in a research report on Thursday, March 7th. Needham & Company LLC reaffirmed a buy rating and set a $45.00 target price on shares of JFrog in a research report on Tuesday. FBN Securities initiated coverage on JFrog in a research report on Wednesday, May 22nd. They issued an outperform rating and a $45.00 price target for the company. Bank Of America (Bofa) raised their price objective on JFrog from $36.00 to $54.00 in a research report on Thursday, March 7th. Finally, Morgan Stanley reduced their target price on shares of JFrog from $52.00 to $47.00 and set an overweight rating for the company in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $43.93.

JFrog Trading Up 2.6 %

Shares of NASDAQ:FROG opened at $36.75 on Friday. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -78.19 and a beta of 0.93. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The business has a 50-day moving average price of $35.28 and a 200 day moving average price of $37.14.

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

Insiders Place Their Bets

In related news, CEO Ben Haim Shlomi sold 57,550 shares of the company’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 sale, the chief executive officer now directly owns 5,048,099 shares of the company’s stock, valued at approximately $163,154,559.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog 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 completion of the transaction, the chief executive officer now directly owns 5,048,099 shares in the company, valued at $163,154,559.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Tali Notman sold 34,748 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $33.96, for a total value of $1,180,042.08. Following the sale, the executive now owns 559,034 shares in the company, valued at approximately $18,984,794.64. The disclosure for this sale can be found here. Insiders have sold 241,048 shares of company stock worth $8,433,115 over the last three months. 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.