JFrog (NASDAQ:FROG) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

JFrog (NASDAQ:FROG) posted its earnings results on Wednesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03), reports. The business had revenue of $103.04 million for the quarter, compared to the consensus estimate of $103.53 million. JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%.

JFrog Price Performance

JFrog stock opened at $24.81 on Friday. The business has a 50 day moving average of $35.12 and a 200-day moving average of $37.85. JFrog has a 1 year low of $21.38 and a 1 year high of $48.81. The company has a market capitalization of $2.53 billion, a P/E ratio of -52.51 and a beta of 0.96.

Insiders Place Their Bets

In related news, CRO Tali Notman sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $36.68, for a total transaction of $1,100,400.00. Following the completion of the transaction, the executive now directly owns 559,034 shares of the company’s stock, valued at approximately $20,505,367.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other JFrog news, CRO Tali Notman sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $36.68, for a total transaction of $1,100,400.00. Following the completion of the transaction, the executive now owns 559,034 shares in the company, valued at approximately $20,505,367.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.70, for a total transaction of $1,144,500.00. Following the completion of the sale, the director now directly owns 4,619,432 shares in the company, valued at $151,055,426.40. The disclosure for this sale can be found here. Insiders have sold 272,107 shares of company stock valued at $9,513,787 in the last ninety days. 15.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JFrog

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arcadia Investment Management Corp MI bought a new stake in JFrog in the 1st quarter worth about $26,000. Frazier Financial Advisors LLC purchased a new position in JFrog in the fourth quarter worth $35,000. Future Financial Wealth Managment LLC bought a new position in JFrog in the 1st quarter valued at $44,000. Advisors Asset Management Inc. increased its position in shares of JFrog by 33.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,615 shares of the company’s stock valued at $116,000 after purchasing an additional 662 shares during the last quarter. Finally, RiverPark Advisors LLC bought a new stake in shares of JFrog during the 1st quarter worth $140,000. Institutional investors and hedge funds own 85.02% of the company’s stock.

Analysts Set New Price Targets

FROG has been the topic of a number of recent research reports. Bank of America lowered their price objective on shares of JFrog from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday. Barclays cut their price target on shares of JFrog from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday. Cantor Fitzgerald decreased their price objective on JFrog from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday. KeyCorp reduced their target price on shares of JFrog from $46.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday. Finally, UBS Group cut their price objective on shares of JFrog from $41.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, JFrog has a consensus rating of “Moderate Buy” and an average price target of $38.00.

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.