JFrog (NASDAQ:FROG) Releases FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY 2024 earnings guidance on Friday. 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 $428.3 million. JFrog also updated its Q2 2024 guidance to 0.130-0.150 EPS.

Analyst Ratings Changes

Several research firms have weighed in on FROG. Needham & Company LLC reiterated a buy rating and set a $45.00 target price on shares of JFrog in a research note on Tuesday. Oppenheimer raised their target price on shares of JFrog from $41.00 to $48.00 in a research note on Thursday, March 7th. Cantor Fitzgerald raised their target price on shares of JFrog from $40.00 to $45.00 in a research note on Thursday, March 7th. FBN Securities initiated coverage on shares of JFrog in a research note on Wednesday, May 22nd. They set an outperform rating and a $45.00 target price on the stock. Finally, Morgan Stanley lowered their target price 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. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, JFrog presently has a consensus rating of Moderate Buy and a consensus target price of $43.93.

JFrog Stock Performance

FROG stock opened at $36.75 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of -78.19 and a beta of 0.93. 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 52 week low of $21.38 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $100.31 million for the quarter, compared to analyst estimates of $98.63 million. JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. Sell-side analysts predict that JFrog will post -0.21 EPS for the current year.

Insider Activity at JFrog

In other news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $32.32, for a total value 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 $163,154,559.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CRO Tali Notman sold 6,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $42.60, for a total value of $255,600.00. Following the sale, the executive now owns 522,348 shares in the company, valued at $22,252,024.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ben Haim Shlomi sold 57,550 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,048 shares of company stock valued at $8,433,115. 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.