JFrog (NASDAQ:FROG) Issues FY24 Earnings Guidance

JFrog (NASDAQ:FROGGet Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $0.59-0.61 for the period, compared to the consensus EPS estimate of $0.60. The company issued revenue guidance of $425.5-429.5 million, compared to the consensus revenue estimate of $428.33 million. JFrog also updated its Q2 guidance to $0.13-0.15 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Truist Financial increased their target price on JFrog from $41.00 to $50.00 in a report on Thursday, March 7th. Morgan Stanley dropped their price target on shares of JFrog from $52.00 to $47.00 and set an overweight rating on the stock in a research note on Friday, May 10th. UBS Group assumed coverage on shares of JFrog in a research note on Wednesday, May 22nd. They issued a buy rating and a $41.00 price target on the stock. Oppenheimer upped their price target on shares of JFrog from $41.00 to $48.00 in a research note on Thursday, March 7th. Finally, Scotiabank dropped 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 note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $43.50.

Get Our Latest Report on FROG

JFrog Price Performance

Shares of FROG traded down $0.86 on Tuesday, hitting $32.92. The company’s stock had a trading volume of 227,216 shares, compared to its average volume of 1,255,147. The company has a market capitalization of $3.35 billion, a PE ratio of -70.21 and a beta of 0.93. JFrog has a fifty-two week low of $21.38 and a fifty-two week high of $48.81. The company has a 50 day moving average price of $35.40 and a 200 day moving average price of $37.12.

JFrog (NASDAQ:FROGGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $98.63 million. On average, equities analysts forecast that JFrog will post -0.21 EPS for the current year.

Insider Buying and Selling

In other JFrog news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $38.97, for a total transaction of $1,363,950.00. Following the completion of the sale, the director now owns 4,654,432 shares in the company, valued at approximately $181,383,215.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other JFrog news, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $38.97, for a total transaction of $1,363,950.00. Following the completion of the sale, the director now owns 4,654,432 shares in the company, valued at approximately $181,383,215.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ben Haim Shlomi sold 57,550 shares of the company’s stock in a transaction on 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 approximately $163,154,559.68. The disclosure for this sale can be found here. Insiders sold 240,648 shares of company stock worth $8,419,115 in the last quarter. Insiders own 15.70% of the company’s stock.

About JFrog

(Get Free Report)

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.

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