JFrog (NASDAQ:FROG) Updates Q2 Earnings Guidance

JFrog (NASDAQ:FROG) updated its second quarter earnings guidance on Tuesday. 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 $103.60 million. JFrog also updated its FY24 guidance to $0.59-0.61 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FROG. Scotiabank cut their price target on shares of JFrog from $45.00 to $40.00 and set a sector perform rating on the stock in a report on Friday, May 10th. Oppenheimer upped their price target on shares of JFrog from $41.00 to $48.00 in a report on Thursday, March 7th. Morgan Stanley dropped their target price on shares of JFrog from $52.00 to $47.00 and set an overweight rating on the stock in a report on Friday, May 10th. DA Davidson increased their target price on shares of JFrog from $45.00 to $55.00 in a report on Thursday, March 7th. Finally, Truist Financial increased their target price on shares of JFrog from $41.00 to $50.00 in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, JFrog presently has a consensus rating of Moderate Buy and an average target price of $43.93.

JFrog Stock Performance

JFrog stock opened at $36.75 on Friday. The company’s fifty day moving average price is $35.28 and its 200 day moving average price is $37.14. JFrog has a 1 year low of $21.38 and a 1 year high of $48.81. The stock has a market capitalization of $3.74 billion, a P/E ratio of -78.19 and a beta of 0.93.

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

Insider Transactions at JFrog

In other news, CRO Tali Notman sold 34,748 shares of JFrog 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 in the company, valued at approximately $18,984,794.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other JFrog news, CTO Yoav Landman sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 6,731,371 shares in the company, valued at $260,504,057.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Tali Notman sold 34,748 shares of the business’s stock in a transaction dated 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 sale, the executive now owns 559,034 shares in the company, valued at $18,984,794.64. The disclosure for this sale can be found here. Insiders have sold a total of 241,048 shares of company stock worth $8,433,115 in the last quarter. Company 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.