JFrog (NASDAQ:FROG) Issues FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.590-0.610 for the period, compared to the consensus earnings per share estimate of 0.600. The company issued revenue guidance of $425.5 million-$429.5 million, compared to the consensus revenue estimate of $426.9 million. JFrog also updated its FY24 guidance to $0.59-0.61 EPS.

JFrog Stock Performance

Shares of FROG opened at $33.01 on Friday. The firm’s 50 day moving average price is $41.38 and its 200 day moving average price is $35.56. JFrog has a twelve month low of $21.38 and a twelve month high of $48.81. The firm has a market cap of $3.36 billion, a PE ratio of -70.23 and a beta of 1.01.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $100.31 million for the quarter, compared to the consensus estimate of $98.63 million. JFrog had a negative net margin of 13.29% and a negative return on equity of 4.71%. On average, sell-side analysts anticipate that JFrog will post -0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of JFrog from $41.00 to $50.00 in a research note on Thursday, March 7th. KeyCorp decreased their price target on shares of JFrog from $52.00 to $46.00 and set an overweight rating on the stock in a research report on Friday. Bank Of America (Bofa) raised their price target on shares of JFrog from $36.00 to $54.00 in a research report on Thursday, March 7th. Scotiabank decreased their price target on shares of JFrog from $45.00 to $40.00 and set a sector perform rating on the stock in a research report on Friday. Finally, DA Davidson lifted their target price on shares of JFrog from $45.00 to $55.00 in a research report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $42.69.

Insider Activity at JFrog

In related news, CTO Yoav Landman sold 110,000 shares of JFrog stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $47.28, for a total transaction of $5,200,800.00. Following the completion of the transaction, the chief technology officer now directly owns 6,811,371 shares of the company’s stock, valued at approximately $322,041,620.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Yoav Landman sold 110,000 shares of JFrog stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $47.28, for a total transaction of $5,200,800.00. Following the completion of the transaction, the chief technology officer now directly owns 6,811,371 shares of the company’s stock, valued at approximately $322,041,620.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederic Simon sold 150,000 shares of JFrog stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $47.27, for a total transaction of $7,090,500.00. Following the transaction, the director now directly owns 4,759,432 shares of the company’s stock, valued at $224,978,350.64. The disclosure for this sale can be found here. Insiders sold 501,355 shares of company stock valued at $22,340,017 in the last ninety days. 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.