JFrog (NASDAQ:FROG) Updates FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.590-0.610 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of $425.9 million-$426.9 million, compared to the consensus revenue estimate of $423.0 million. JFrog also updated its Q4 guidance to $0.13-0.15 EPS.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of JFrog from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial boosted their price target on shares of JFrog from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays cut their price target on shares of JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price target on shares of JFrog in a research note on Tuesday, October 29th. Finally, Canaccord Genuity Group cut their price target on shares of JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.61.

JFrog Stock Performance

NASDAQ:FROG traded up $1.14 during midday trading on Thursday, reaching $32.86. 2,027,089 shares of the stock traded hands, compared to its average volume of 1,270,889. The company has a fifty day moving average of $28.97 and a 200 day moving average of $32.44. JFrog has a 12 month low of $22.91 and a 12 month high of $48.81. The stock has a market capitalization of $3.35 billion, a P/E ratio of -73.29 and a beta of 0.93.

JFrog (NASDAQ:FROG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. The company had revenue of $103.04 million during the quarter, compared to the consensus estimate of $103.53 million. On average, analysts predict that JFrog will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other JFrog news, CEO Ben Haim Shlomi sold 20,606 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the transaction, the chief executive officer now directly owns 5,027,493 shares in the company, valued at approximately $136,043,960.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Ben Haim Shlomi sold 20,606 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $27.06, for a total value of $557,598.36. Following the completion of the transaction, the chief executive officer now directly owns 5,027,493 shares in the company, valued at $136,043,960.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Yoav Landman sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $25.68, for a total transaction of $385,200.00. Following the completion of the transaction, the chief technology officer now owns 6,642,242 shares of the company’s stock, valued at approximately $170,572,774.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,031 shares of company stock worth $4,003,447. 15.70% of the stock is currently owned by corporate insiders.

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.