JFrog (NASDAQ:FROG) Releases Q2 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.130-0.150 for the period, compared to the consensus estimate of 0.140. The company issued revenue guidance of $103.0 million-$104.0 million, compared to the consensus revenue estimate of $103.6 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FROG shares. Morgan Stanley lowered their price target on JFrog from $52.00 to $47.00 and set an overweight rating for the company in a research note on Friday, May 10th. KeyCorp dropped their price target on shares of JFrog from $52.00 to $46.00 and set an overweight rating on the stock in a research note on Friday, May 10th. UBS Group began coverage on shares of JFrog in a research note on Wednesday, May 22nd. They issued a buy rating and a $41.00 price objective for the company. Scotiabank decreased their price objective on shares of JFrog from $45.00 to $40.00 and set a sector perform rating for the company in a report on Friday, May 10th. Finally, Cantor Fitzgerald raised their target price on JFrog from $40.00 to $45.00 in a report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JFrog currently has an average rating of Moderate Buy and an average target price of $43.93.

JFrog Stock Performance

Shares of FROG opened at $37.55 on Monday. The stock’s 50-day moving average price is $35.28 and its 200 day moving average price is $37.29. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81.

JFrog (NASDAQ:FROG) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $100.31 million for the quarter, compared to analysts’ expectations of $98.63 million. JFrog had a negative return on equity of 4.62% and a negative net margin of 13.29%. Equities analysts predict that JFrog will post -0.21 EPS for the current year.

Insider Buying and Selling

In related news, CRO Tali Notman sold 34,748 shares of JFrog stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $33.96, for a total transaction of $1,180,042.08. Following the completion of the transaction, the executive now directly owns 559,034 shares of the company’s stock, valued at approximately $18,984,794.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CRO Tali Notman sold 34,748 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $33.96, for a total transaction of $1,180,042.08. Following the transaction, the executive now owns 559,034 shares of the company’s stock, valued at $18,984,794.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Yoav Landman sold 40,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $38.70, for a total transaction of $1,548,000.00. Following the completion of the transaction, the chief technology officer now owns 6,731,371 shares in the company, valued at $260,504,057.70. The disclosure for this sale can be found here. Insiders sold 241,048 shares of company stock valued at $8,433,115 over the last quarter. 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.