JFrog (NASDAQ:FROG) Issues Q2 2024 Earnings Guidance

JFrog (NASDAQ:FROG) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.130-0.150 for the period, compared to the consensus EPS estimate of 0.140. The company issued revenue guidance of $103.0 million-$104.0 million, compared to the consensus revenue estimate of $103.6 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

JFrog Price Performance

JFrog stock opened at $36.75 on Friday. The firm has a 50 day simple moving average of $35.28 and a 200-day simple moving average of $37.14. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -78.19 and a beta of 0.93.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. The business had revenue of $100.31 million during the quarter, compared to analysts’ expectations of $98.63 million. Equities analysts expect that JFrog will post -0.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of JFrog from $45.00 to $55.00 in a research report on Thursday, March 7th. FBN Securities started coverage on shares of JFrog in a research report on Wednesday, May 22nd. They issued an outperform rating and a $45.00 price target for the company. Cantor Fitzgerald raised their price target on shares of JFrog from $40.00 to $45.00 in a research report on Thursday, March 7th. Truist Financial raised their price target on shares of JFrog from $41.00 to $50.00 in a research report on Thursday, March 7th. Finally, Barclays initiated coverage on shares of JFrog in a report on Wednesday. They issued an overweight rating and a $50.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, JFrog has an average rating of Moderate Buy and a consensus target price of $43.93.

Insider Buying and Selling

In related news, CEO Ben Haim Shlomi sold 57,550 shares of the business’s 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 sale, the chief executive officer now owns 5,048,099 shares of the company’s stock, valued at $163,154,559.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other JFrog news, CRO Tali Notman sold 6,000 shares of JFrog stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $42.60, for a total transaction of $255,600.00. Following the completion of the transaction, the executive now owns 522,348 shares in the company, valued at $22,252,024.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction dated Friday, June 7th. The stock was 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 owns 5,048,099 shares of the company’s stock, valued at approximately $163,154,559.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,048 shares of company stock valued at $8,433,115. 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.