JFrog (NASDAQ:FROG) Releases 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 (EPS) guidance of 0.590-0.610 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. DA Davidson raised their price objective on shares of JFrog from $45.00 to $55.00 in a report on Thursday, March 7th. KeyCorp assumed coverage on JFrog in a report on Tuesday, March 19th. They issued an overweight rating and a $52.00 price target on the stock. Needham & Company LLC increased their price objective on JFrog from $40.00 to $55.00 in a report on Thursday, March 7th. Scotiabank started coverage on JFrog in a research report on Thursday, March 7th. They set a buy rating for the company. Finally, Cantor Fitzgerald boosted their price objective on shares of JFrog from $40.00 to $45.00 in a research report on Thursday, March 7th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $43.46.

JFrog Price Performance

JFrog stock traded down $0.12 during mid-day trading on Thursday, hitting $40.62. 1,723,063 shares of the company’s stock traded hands, compared to its average volume of 1,176,414. The firm has a 50 day simple moving average of $41.70 and a two-hundred day simple moving average of $35.36. JFrog has a fifty-two week low of $21.38 and a fifty-two week high of $48.81. The stock 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 posted its earnings results on Wednesday, February 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). JFrog had a negative net margin of 17.51% and a negative return on equity of 6.01%. The company had revenue of $97.26 million during the quarter, compared to analysts’ expectations of $93.07 million. On average, research analysts anticipate that JFrog will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frederic Simon sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $47.27, for a total value of $7,090,500.00. Following the completion of the transaction, the director now owns 4,759,432 shares of the company’s stock, valued at $224,978,350.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Yossi Sela sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $42.87, for a total transaction of $1,929,150.00. Following the completion of the sale, the director now owns 380,312 shares of the company’s stock, valued at approximately $16,303,975.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederic Simon sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $47.27, for a total value of $7,090,500.00. Following the completion of the sale, the director now directly owns 4,759,432 shares of the company’s stock, valued at approximately $224,978,350.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 501,355 shares of company stock valued at $22,340,017. 15.70% of the stock is owned by company insiders.

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.