JFrog (NASDAQ:FROG) Updates FY24 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY24 earnings guidance on Thursday. 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 $426.88 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

JFrog Stock Performance

FROG traded down $0.12 during trading on Thursday, hitting $40.62. 1,797,517 shares of the stock were exchanged, compared to its average volume of 1,176,697. JFrog has a 1 year low of $21.38 and a 1 year high of $48.81. The firm has a 50 day simple moving average of $41.70 and a 200 day simple moving average of $35.36. The firm 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 quarterly earnings results on Wednesday, February 14th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $97.26 million during the quarter, compared to analyst estimates of $93.07 million. JFrog had a negative net margin of 17.51% and a negative return on equity of 6.01%. As a group, equities analysts anticipate that JFrog will post -0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FROG shares. KeyCorp assumed coverage on shares of JFrog in a research report on Tuesday, March 19th. They set an overweight rating and a $52.00 target price for the company. Cantor Fitzgerald lifted their price target on JFrog from $40.00 to $45.00 in a research report on Thursday, March 7th. Truist Financial upped their target price on JFrog from $41.00 to $50.00 in a research report on Thursday, March 7th. Scotiabank initiated coverage on shares of JFrog in a report on Thursday, March 7th. They issued a buy rating on the stock. Finally, Oppenheimer boosted their target price on shares of JFrog from $41.00 to $48.00 in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, JFrog currently has an average rating of Moderate Buy and an average target price of $43.46.

Insider Activity at JFrog

In related news, Director Frederic Simon sold 150,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $47.27, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO Yoav Landman sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $38.70, for a total value of $1,548,000.00. Following the sale, the chief technology officer now directly owns 6,731,371 shares of the company’s stock, valued at $260,504,057.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederic Simon sold 150,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $47.27, for a total transaction 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 $224,978,350.64. The disclosure for this sale can be found here. Insiders sold 501,355 shares of company stock worth $22,340,017 in the last 90 days. 15.70% of the stock is currently owned by company 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.