JFrog (NASDAQ:FROG) Updates FY 2024 Earnings Guidance

JFrog (NASDAQ:FROG) updated its FY 2024 earnings guidance on Saturday. The company provided earnings per share guidance of 0.540-0.560 for the period, compared to the consensus earnings per share estimate of 0.600. The company issued revenue guidance of $422.0 million-$424.0 million, compared to the consensus revenue estimate of $428.3 million.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays reduced their price target on shares of JFrog from $50.00 to $40.00 and set an overweight rating for the company in a research report on Friday, August 9th. Morgan Stanley cut their price objective on JFrog from $47.00 to $33.00 and set an overweight rating for the company in a research note on Thursday, August 8th. 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. Stifel Nicolaus cut their price objective on JFrog from $45.00 to $30.00 and set a buy rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler cut their price objective on JFrog from $40.00 to $32.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JFrog has an average rating of Moderate Buy and a consensus target price of $38.00.

JFrog Stock Performance

NASDAQ:FROG opened at $27.45 on Tuesday. The stock’s fifty day moving average is $34.35 and its 200 day moving average is $37.58. JFrog has a fifty-two week low of $21.38 and a fifty-two week high of $48.81. The firm has a market capitalization of $2.80 billion, a PE ratio of -58.40 and a beta of 0.96.

Insider Activity at JFrog

In related news, CTO Yoav Landman sold 15,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.35, for a total transaction of $485,250.00. Following the sale, the chief technology officer now owns 6,747,142 shares in the company, valued at approximately $218,270,043.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other JFrog news, CTO Yoav Landman sold 15,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.35, for a total value of $485,250.00. Following the sale, the chief technology officer now owns 6,747,142 shares in the company, valued at $218,270,043.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 57,550 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $32.32, for a total value of $1,860,016.00. Following the completion of the sale, the chief executive officer now owns 5,048,099 shares in the company, valued at approximately $163,154,559.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,107 shares of company stock worth $8,754,487. Company 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.