Scotiabank Predicts JFrog’s FY2024 Earnings (NASDAQ:FROG)

JFrog Ltd. (NASDAQ:FROG) – Investment analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for JFrog in a report issued on Wednesday, January 8th. Scotiabank analyst N. Altmann anticipates that the company will earn ($0.32) per share for the year. Scotiabank has a “Sector Perform” rating and a $30.00 price target on the stock. The consensus estimate for JFrog’s current full-year earnings is ($0.32) per share. Scotiabank also issued estimates for JFrog’s FY2025 earnings at ($0.22) EPS.

A number of other research firms also recently issued reports on FROG. TD Cowen boosted their target price on shares of JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Robert W. Baird boosted their price objective on JFrog from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, November 8th. DA Davidson restated a “buy” rating and issued a $40.00 target price on shares of JFrog in a research note on Monday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price target on shares of JFrog in a research report on Tuesday, October 29th. Finally, Truist Financial restated a “buy” rating and issued a $35.00 price objective (up previously from $33.00) on shares of JFrog in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.72.

JFrog Trading Down 2.0 %

Shares of NASDAQ FROG opened at $31.30 on Monday. The company has a 50 day simple moving average of $30.89 and a two-hundred day simple moving average of $30.95. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -59.06 and a beta of 0.95. JFrog has a 12 month low of $22.91 and a 12 month high of $48.81.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of JFrog by 30.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,047 shares of the company’s stock valued at $25,963,000 after purchasing an additional 210,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in JFrog by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,508,852 shares of the company’s stock valued at $43,817,000 after purchasing an additional 159,483 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of JFrog by 55.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,437,941 shares of the company’s stock valued at $41,757,000 after buying an additional 514,895 shares during the period. North Peak Capital Management LLC acquired a new stake in shares of JFrog during the 3rd quarter worth approximately $73,417,000. Finally, Atom Investors LP raised its position in shares of JFrog by 57.0% during the 3rd quarter. Atom Investors LP now owns 66,449 shares of the company’s stock valued at $1,930,000 after buying an additional 24,120 shares during the period. 85.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JFrog

In other news, CEO Ben Haim Shlomi sold 17,775 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $31.93, for a total value of $567,555.75. Following the transaction, the chief executive officer now directly owns 4,957,454 shares of the company’s stock, valued at approximately $158,291,506.22. This trade represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frederic Simon sold 35,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $30.86, for a total transaction of $1,080,100.00. Following the sale, the director now directly owns 4,514,432 shares of the company’s stock, valued at approximately $139,315,371.52. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,146 shares of company stock valued at $7,431,754 over the last ninety days. Corporate 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.