JFrog (NASDAQ:FROG) Releases Q4 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its fourth quarter 2024 earnings guidance on Thursday 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 $113.5 million-$114.5 million, compared to the consensus revenue estimate of $114.0 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

JFrog Stock Up 3.6 %

Shares of FROG traded up $1.14 during midday trading on Thursday, reaching $32.86. The company had a trading volume of 2,027,089 shares, compared to its average volume of 1,270,889. JFrog has a 1-year low of $22.91 and a 1-year high of $48.81. The stock has a market cap of $3.35 billion, a PE ratio of -73.29 and a beta of 0.93. The firm has a 50 day simple moving average of $28.97 and a 200-day simple moving average of $32.44.

JFrog (NASDAQ:FROG) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $103.04 million for the quarter, compared to analysts’ expectations of $103.53 million. JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. As a group, sell-side analysts anticipate that JFrog will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FROG shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price target on shares of JFrog in a report on Tuesday, October 29th. DA Davidson restated a “buy” rating and set a $40.00 target price on shares of JFrog in a report on Monday, October 14th. Canaccord Genuity Group lowered their target price on JFrog from $48.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Scotiabank lowered their target price on JFrog from $40.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer cut JFrog from an “outperform” rating to a “market perform” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, JFrog has a consensus rating of “Moderate Buy” and an average target price of $36.61.

Insider Transactions at JFrog

In other news, CTO Yoav Landman sold 15,000 shares of the firm’s 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 sale, the chief technology officer now owns 6,642,242 shares of the company’s stock, valued at approximately $170,572,774.56. 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 accessible through the SEC website. In other JFrog news, CTO Yoav Landman sold 15,000 shares of JFrog stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $25.68, for a total transaction of $385,200.00. Following the transaction, the chief technology officer now owns 6,642,242 shares of the company’s stock, valued at $170,572,774.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Tali Notman sold 10,699 shares of JFrog stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.29, for a total value of $302,674.71. Following the transaction, the executive now directly owns 536,714 shares in the company, valued at approximately $15,183,639.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,031 shares of company stock valued at $4,003,447. 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.