JFrog (NASDAQ:FROG) Updates Q2 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its second quarter earnings guidance on Tuesday morning. 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.

JFrog Trading Up 2.9 %

Shares of NASDAQ FROG opened at $35.81 on Thursday. The company has a 50 day simple moving average of $35.30 and a 200 day simple moving average of $37.14. JFrog has a 1 year low of $21.38 and a 1 year high of $48.81.

JFrog (NASDAQ:FROG) last released its earnings results on Thursday, May 9th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $100.31 million during the quarter, compared to the consensus estimate of $98.63 million. JFrog had a negative net margin of 13.29% and a negative return on equity of 4.62%. As a group, research analysts expect that JFrog will post -0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

FROG has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of JFrog from $41.00 to $50.00 in a research report on Thursday, March 7th. DA Davidson raised their price objective on JFrog from $45.00 to $55.00 in a research note on Thursday, March 7th. Barclays began coverage on JFrog in a research note on Wednesday. They set an overweight rating and a $50.00 price objective on the stock. Bank Of America (Bofa) lifted their target price on JFrog from $36.00 to $54.00 in a research note on Thursday, March 7th. Finally, Oppenheimer lifted their target price on JFrog from $41.00 to $48.00 in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $43.93.

Insider Buying and Selling

In related news, CTO Yoav Landman sold 2,250 shares of JFrog stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $35.28, for a total value of $79,380.00. Following the completion of the sale, the chief technology officer now owns 6,744,892 shares of the company’s stock, valued at approximately $237,959,789.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other JFrog news, CTO Yoav Landman sold 2,250 shares of JFrog stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $35.28, for a total transaction of $79,380.00. Following the completion of the transaction, the chief technology officer now owns 6,744,892 shares of the company’s stock, valued at approximately $237,959,789.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ben Haim Shlomi sold 57,550 shares of JFrog stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $32.32, for a total value of $1,860,016.00. Following 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 240,648 shares of company stock valued at $8,419,115. 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.