JFrog (NASDAQ:FROG) Issues FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 0.590-0.610 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Scotiabank cut their price objective on JFrog from $45.00 to $40.00 and set a sector perform rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reiterated a buy rating and set a $45.00 target price on shares of JFrog in a report on Tuesday. Truist Financial lifted their target price on shares of JFrog from $41.00 to $50.00 in a report on Thursday, March 7th. Bank Of America (Bofa) lifted their target price on shares of JFrog from $36.00 to $54.00 in a report on Thursday, March 7th. Finally, Morgan Stanley lowered 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, JFrog currently has an average rating of Moderate Buy and an average target price of $43.93.

JFrog Price Performance

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

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

Insider Activity

In related news, CEO Ben Haim Shlomi sold 57,550 shares of the stock in a transaction dated Friday, June 7th. The shares were 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 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 can be accessed through this hyperlink. In other JFrog news, CEO Ben Haim Shlomi sold 57,550 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.32, for a total value of $1,860,016.00. Following the completion of the sale, the chief executive officer now 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 SEC, which can be accessed through the SEC website. Also, CTO Yoav Landman sold 40,000 shares of JFrog stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $38.70, for a total transaction of $1,548,000.00. Following the transaction, the chief technology officer now directly owns 6,731,371 shares in the company, valued at $260,504,057.70. The disclosure for this sale can be found here. Insiders sold a total of 241,048 shares of company stock worth $8,433,115 over the last 90 days. Corporate insiders own 15.70% of the company’s stock.

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.