JFrog (NASDAQ:FROG) Updates Q2 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.130-0.150 for the period, compared to the consensus estimate of 0.140. The company issued revenue guidance of $103.0 million-$104.0 million, compared to the consensus revenue estimate of $103.1 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

Analyst Ratings Changes

FROG has been the subject of several research analyst 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. Morgan Stanley upped their price objective on JFrog from $40.00 to $52.00 in a report on Thursday, March 7th. KeyCorp initiated coverage on shares of JFrog in a research report on Tuesday, March 19th. They set an overweight rating and a $52.00 target price for the company. Scotiabank assumed coverage on shares of JFrog in a report on Thursday, March 7th. They set a buy rating on the stock. Finally, Bank Of America (Bofa) increased their price objective on shares of JFrog from $36.00 to $54.00 in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $43.46.

JFrog Stock Performance

Shares of NASDAQ:FROG traded down $0.12 during midday trading on Thursday, reaching $40.62. The company had a trading volume of 1,723,063 shares, compared to its average volume of 1,176,414. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81. The company has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $35.36. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -67.70 and a beta of 1.01.

JFrog (NASDAQ:FROG) last released its earnings results on Wednesday, February 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. The company had revenue of $97.26 million during the quarter, compared to analyst estimates of $93.07 million. Analysts expect that JFrog will post -0.21 EPS for the current year.

Insider Buying and Selling at JFrog

In related news, CTO Yoav Landman sold 110,000 shares of JFrog stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $47.28, for a total transaction of $5,200,800.00. Following the completion of the sale, the chief technology officer now owns 6,811,371 shares of the company’s stock, valued at $322,041,620.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Ben Haim Shlomi sold 32,724 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $1,436,256.36. Following the transaction, the chief executive officer now directly owns 4,987,300 shares of the company’s stock, valued at approximately $218,892,597. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Yoav Landman sold 110,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $47.28, for a total value of $5,200,800.00. Following the transaction, the chief technology officer now owns 6,811,371 shares in the company, valued at approximately $322,041,620.88. The disclosure for this sale can be found here. Insiders have sold a total of 501,355 shares of company stock valued at $22,340,017 in the last 90 days. 15.70% of the stock is currently owned by corporate insiders.

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.