JFrog (NASDAQ:FROG) Releases Q2 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) 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 $103.6 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

JFrog Trading Up 2.6 %

JFrog stock opened at $36.75 on Friday. The company has a market cap of $3.74 billion, a PE ratio of -78.19 and a beta of 0.93. The company’s 50-day moving average is $35.28 and its two-hundred day moving average is $37.14. JFrog has a 1 year low of $21.38 and a 1 year high of $48.81.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $100.31 million during the quarter, compared to analysts’ expectations of $98.63 million. JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. Research analysts forecast that JFrog will post -0.21 EPS for the current year.

Analysts Set New Price Targets

FROG has been the subject of a number of recent analyst reports. Scotiabank lowered their price target on JFrog from $45.00 to $40.00 and set a sector perform rating for the company in a research note on Friday, May 10th. FBN Securities started coverage on JFrog in a research note on Wednesday, May 22nd. They set an outperform rating and a $45.00 target price for the company. Bank Of America (Bofa) increased their target price on JFrog from $36.00 to $54.00 in a research note on Thursday, March 7th. Truist Financial raised their price target on shares of JFrog from $41.00 to $50.00 in a research note on Thursday, March 7th. Finally, Morgan Stanley decreased their price target on shares of JFrog from $52.00 to $47.00 and set an overweight rating for the company in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, JFrog currently has an average rating of Moderate Buy and an average price target of $43.93.

Insider Buying and Selling

In related news, CRO Tali Notman sold 6,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $42.60, for a total value of $255,600.00. Following the transaction, the executive now owns 522,348 shares in the company, valued at $22,252,024.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JFrog news, CRO Tali Notman sold 6,000 shares of JFrog stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $42.60, for a total value of $255,600.00. Following the transaction, the executive now owns 522,348 shares in the company, valued at $22,252,024.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Yoav Landman sold 2,250 shares of JFrog stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $35.28, for a total value of $79,380.00. Following the completion of the transaction, the chief technology officer now owns 6,744,892 shares in the company, valued at approximately $237,959,789.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,048 shares of company stock worth $8,433,115. Company 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.