JFrog (NASDAQ:FROG) Issues 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

Shares of JFrog stock traded down $0.12 on Thursday, reaching $40.62. 1,650,988 shares of the company were exchanged, compared to its average volume of 1,175,613. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -67.70 and a beta of 1.01. The company’s 50-day moving average is $41.70 and its two-hundred day moving average is $35.36. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. The business had revenue of $97.26 million during the quarter, compared to the consensus estimate of $93.07 million. As a group, sell-side analysts forecast that JFrog will post -0.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC lifted their target price on JFrog from $40.00 to $55.00 in a report on Thursday, March 7th. Cantor Fitzgerald boosted their target price on shares of JFrog from $40.00 to $45.00 in a research note on Thursday, March 7th. KeyCorp started coverage on JFrog in a research report on Tuesday, March 19th. They issued an overweight rating and a $52.00 target price for the company. Bank Of America (Bofa) upped their target price on JFrog from $36.00 to $54.00 in a report on Thursday, March 7th. Finally, Oppenheimer raised their price target on shares of JFrog from $41.00 to $48.00 in a 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. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $43.46.

Insider Activity

In related news, CEO Ben Haim Shlomi sold 32,724 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $1,436,256.36. Following the completion of the transaction, the chief executive officer now owns 4,987,300 shares of the company’s stock, valued at approximately $218,892,597. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ben Haim Shlomi sold 32,724 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $1,436,256.36. Following the completion of the transaction, the chief executive officer now directly owns 4,987,300 shares of the company’s stock, valued at $218,892,597. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eduard Grabscheid sold 605 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $26,553.45. Following the completion of the sale, the chief financial officer now directly owns 85,565 shares in the company, valued at approximately $3,755,447.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 501,355 shares of company stock valued at $22,340,017. 15.70% of the stock is owned by 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.