JFrog (NASDAQ:FROG) Updates Q2 2024 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.130-0.150 for the period, compared to the consensus earnings per share estimate of 0.140. The company issued revenue guidance of $103.0 million-$104.0 million, compared to the consensus revenue estimate of $103.1 million. JFrog also updated its FY 2024 guidance to 0.590-0.610 EPS.

Analyst Upgrades and Downgrades

FROG has been the subject of a number of analyst reports. Cantor Fitzgerald increased their price target on JFrog from $40.00 to $45.00 in a research report on Thursday, March 7th. Scotiabank began coverage on JFrog in a research note on Thursday, March 7th. They issued a buy rating on the stock. Oppenheimer boosted their price target on shares of JFrog from $41.00 to $48.00 in a report on Thursday, March 7th. Truist Financial increased their price objective on JFrog from $41.00 to $50.00 in a report on Thursday, March 7th. Finally, Bank Of America (Bofa) lifted their price objective on shares of JFrog from $36.00 to $54.00 in a research note on Thursday, March 7th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, JFrog has a consensus rating of Moderate Buy and an average price target of $43.46.

JFrog Price Performance

NASDAQ FROG traded down $0.12 during trading on Thursday, reaching $40.62. The company’s stock had a trading volume of 1,723,063 shares, compared to its average volume of 1,176,414. The stock has a market capitalization of $4.14 billion, a PE ratio of -67.70 and a beta of 1.01. The firm has a fifty day moving average of $41.70 and a 200 day moving average of $35.36. JFrog has a one year low of $21.38 and a one year high of $48.81.

JFrog (NASDAQ:FROG) last announced its earnings results on Wednesday, February 14th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). JFrog had a negative net margin of 17.51% and a negative return on equity of 6.01%. The business had revenue of $97.26 million for the quarter, compared to the consensus estimate of $93.07 million. Research analysts expect that JFrog will post -0.21 earnings per share for the current fiscal year.

Insider Activity at JFrog

In other news, CTO Yoav Landman sold 110,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $47.28, for a total transaction of $5,200,800.00. Following the transaction, the chief technology officer now directly owns 6,811,371 shares in the company, valued at approximately $322,041,620.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other JFrog news, CTO Yoav Landman sold 110,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $47.28, for a total value of $5,200,800.00. Following the completion of the sale, the chief technology officer now directly owns 6,811,371 shares of the company’s stock, valued at $322,041,620.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederic Simon sold 150,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $47.27, for a total value of $7,090,500.00. Following the transaction, the director now directly owns 4,759,432 shares in the company, valued at $224,978,350.64. The disclosure for this sale can be found here. Insiders have sold a total of 501,355 shares of company stock valued at $22,340,017 over the last 90 days. 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.