JFrog (NASDAQ:FROG) Updates Q2 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.130-0.150 for the period, compared to the consensus EPS 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.

JFrog Trading Up 2.2 %

FROG stock opened at $37.55 on Monday. The company has a 50 day simple moving average of $35.28 and a 200 day simple moving average of $37.29. JFrog has a 1 year low of $21.38 and a 1 year high of $48.81.

JFrog (NASDAQ:FROG) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $100.31 million during 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%. Research analysts forecast that JFrog will post -0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FROG. UBS Group assumed coverage on JFrog in a report on Wednesday, May 22nd. They set a buy rating and a $41.00 price target on the stock. Needham & Company LLC reissued a buy rating and set a $45.00 target price on shares of JFrog in a report on Tuesday, June 25th. Bank Of America (Bofa) raised their price target on shares of JFrog from $36.00 to $54.00 in a research note on Thursday, March 7th. Oppenheimer lifted their price target on shares of JFrog from $41.00 to $48.00 in a report on Thursday, March 7th. Finally, KeyCorp decreased their price objective on JFrog from $52.00 to $46.00 and set an overweight rating for the company in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $43.93.

Insider Buying and Selling at JFrog

In other news, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the completion of the transaction, the chief executive officer now directly owns 5,048,099 shares of the company’s stock, valued at approximately $163,154,559.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ben Haim Shlomi sold 57,550 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $32.32, for a total transaction of $1,860,016.00. Following the completion of the sale, the chief executive officer now owns 5,048,099 shares of the company’s stock, valued at approximately $163,154,559.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Tali Notman sold 6,000 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $42.60, for a total transaction of $255,600.00. Following the transaction, the executive now owns 522,348 shares in the company, valued at approximately $22,252,024.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,048 shares of company stock valued at $8,433,115. 15.70% of the stock is currently owned by insiders.

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.