JFrog (NASDAQ:FROG) Updates Q2 Earnings Guidance

JFrog (NASDAQ:FROG) updated its second quarter earnings guidance on Thursday. 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 $103.13 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

JFrog Stock Down 0.3 %

NASDAQ FROG traded down $0.12 on Thursday, hitting $40.62. The company’s stock had a trading volume of 1,797,517 shares, compared to its average volume of 1,176,697. The firm has a market cap of $4.14 billion, a PE ratio of -67.70 and a beta of 1.01. The company’s 50-day moving average is $41.70 and its 200 day moving average is $35.36. JFrog has a 1-year low of $21.38 and a 1-year high of $48.81.

JFrog (NASDAQ:FROG) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The company had revenue of $97.26 million for the quarter, compared to analyst estimates of $93.07 million. JFrog had a negative return on equity of 6.01% and a negative net margin of 17.51%. On average, equities analysts expect that JFrog will post -0.21 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FROG shares. DA Davidson upped their target price on JFrog from $45.00 to $55.00 in a research report on Thursday, March 7th. Truist Financial lifted their price objective on shares of JFrog from $41.00 to $50.00 in a research note on Thursday, March 7th. Scotiabank assumed coverage on shares of JFrog in a research note on Thursday, March 7th. They set a buy rating on the stock. Needham & Company LLC lifted their price target on shares of JFrog from $40.00 to $55.00 in a research note on Thursday, March 7th. Finally, Oppenheimer increased their price objective on shares of JFrog from $41.00 to $48.00 in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, JFrog presently has a consensus rating of Moderate Buy and a consensus target price of $43.46.

Insider Buying and Selling

In related news, CFO Eduard Grabscheid sold 605 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total transaction of $26,553.45. Following the sale, the chief financial officer now directly owns 85,565 shares in the company, valued at approximately $3,755,447.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Eduard Grabscheid sold 605 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.89, for a total value of $26,553.45. Following the transaction, the chief financial officer now directly owns 85,565 shares in the company, valued at $3,755,447.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ben Haim Shlomi sold 32,724 shares of JFrog stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $1,436,256.36. Following the sale, the chief executive officer now directly owns 4,987,300 shares of the company’s stock, valued at $218,892,597. The disclosure for this sale can be found here. In the last 90 days, insiders sold 501,355 shares of company stock valued at $22,340,017. 15.70% of the stock is owned by insiders.

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.