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 Price Performance

JFrog stock traded up $1.14 during trading hours on Thursday, reaching $32.86. The stock had a trading volume of 2,027,089 shares, compared to its average volume of 1,270,889. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -73.29 and a beta of 0.93. The business’s 50 day moving average price is $28.97 and its 200-day moving average price is $32.44. JFrog has a 52 week low of $22.91 and a 52 week high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). JFrog had a negative net margin of 12.35% and a negative return on equity of 4.63%. The company had revenue of $103.04 million for the quarter, compared to analyst estimates of $103.53 million. On average, sell-side analysts forecast that JFrog will post -0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FROG. Canaccord Genuity Group cut their price objective on shares of JFrog from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group cut their price objective on shares of JFrog from $41.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Piper Sandler cut their price objective on shares of JFrog from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price objective on shares of JFrog in a report on Tuesday, October 29th. Finally, TD Cowen upped their target price on JFrog from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.61.

Insiders Place Their Bets

In other news, CEO Ben Haim Shlomi sold 35,550 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the transaction, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at $149,256,870. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Ben Haim Shlomi sold 35,550 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the transaction, the chief executive officer now directly owns 4,975,229 shares of the company’s stock, valued at $149,256,870. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $25.68, for a total value of $385,200.00. Following the transaction, the chief technology officer now directly owns 6,642,242 shares of the company’s stock, valued at approximately $170,572,774.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,031 shares of company stock worth $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.