JFrog (NASDAQ:FROG) Releases 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.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. KeyCorp decreased their price target on JFrog from $52.00 to $46.00 and set an overweight rating for the company in a research note on Friday, May 10th. Morgan Stanley reduced their price objective on JFrog from $52.00 to $47.00 and set an overweight rating for the company in a research note on Friday, May 10th. FBN Securities initiated coverage on JFrog in a research note on Wednesday, May 22nd. They set an outperform rating and a $45.00 price objective for the company. Barclays began coverage on JFrog in a research note on Wednesday. They set an overweight rating and a $50.00 price objective for the company. Finally, Needham & Company LLC restated a buy rating and issued a $45.00 target price on shares of JFrog in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JFrog currently has a consensus rating of Moderate Buy and an average target price of $43.93.

JFrog Stock Up 2.6 %

Shares of FROG stock opened at $36.75 on Friday. JFrog has a 12-month low of $21.38 and a 12-month high of $48.81. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -78.19 and a beta of 0.93. The firm has a fifty day moving average of $35.28 and a 200-day moving average of $37.14.

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

Insider Activity at JFrog

In related news, CRO Tali Notman sold 6,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $42.60, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CRO Tali Notman sold 6,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $42.60, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frederic Simon sold 35,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $38.97, for a total transaction of $1,363,950.00. Following the transaction, the director now owns 4,654,432 shares in the company, valued at approximately $181,383,215.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,048 shares of company stock worth $8,433,115. 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.