JFrog (NASDAQ:FROG) Updates Q2 Earnings Guidance

JFrog (NASDAQ:FROG) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.13-0.15 for the period, compared to the consensus earnings per share estimate of $0.14. The company issued revenue guidance of $103-104 million, compared to the consensus revenue estimate of $103.13 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FROG. Bank Of America (Bofa) boosted their target price on JFrog from $36.00 to $54.00 in a research note on Thursday, March 7th. Truist Financial boosted their target price on shares of JFrog from $41.00 to $50.00 in a research report on Thursday, March 7th. Needham & Company LLC lifted their target price on JFrog from $40.00 to $55.00 in a report on Thursday, March 7th. Cantor Fitzgerald lifted their target price on shares of JFrog from $40.00 to $45.00 in a report on Thursday, March 7th. Finally, Oppenheimer lifted their price objective on 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 given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $43.46.

JFrog Stock Down 0.3 %

NASDAQ FROG traded down $0.12 on Thursday, reaching $40.62. The stock had a trading volume of 1,650,988 shares, compared to its average volume of 1,175,613. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -67.90 and a beta of 1.01. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The stock has a fifty day moving average price of $41.70 and a two-hundred day moving average price of $35.36.

JFrog (NASDAQ:FROG) last announced its earnings results on Wednesday, February 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The company had revenue of $97.26 million for the quarter, compared to analyst estimates of $93.07 million. JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. Sell-side analysts forecast that JFrog will post -0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JFrog news, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $38.97, for a total value of $1,363,950.00. Following the completion of the transaction, the director now owns 4,654,432 shares in the company, valued at $181,383,215.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Yoav Landman sold 110,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $47.28, for a total transaction of $5,200,800.00. Following the completion of the transaction, the chief technology officer now owns 6,811,371 shares in the company, valued at $322,041,620.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frederic Simon sold 35,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $38.97, for a total transaction of $1,363,950.00. Following the transaction, the director now owns 4,654,432 shares of the company’s stock, valued at approximately $181,383,215.04. The disclosure for this sale can be found here. Insiders sold a total of 501,355 shares of company stock worth $22,340,017 over the last 90 days. Corporate insiders own 15.70% of the company’s stock.

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.