Analysts Offer Predictions for JFrog FY2024 Earnings

JFrog Ltd. (NASDAQ:FROG) – Equities research analysts at Cantor Fitzgerald issued their FY2024 earnings per share (EPS) estimates for JFrog in a research note issued on Tuesday, October 29th. Cantor Fitzgerald analyst J. Ruykhaver expects that the company will earn ($0.29) per share for the year. Cantor Fitzgerald has a “Overweight” rating and a $35.00 price target on the stock. The consensus estimate for JFrog’s current full-year earnings is ($0.28) per share.

JFrog (NASDAQ:FROG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). JFrog had a negative return on equity of 4.63% and a negative net margin of 12.35%. The firm had revenue of $103.04 million for the quarter, compared to the consensus estimate of $103.53 million.

Other research analysts also recently issued reports about the stock. Truist Financial raised their price objective on shares of JFrog from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley reduced their price target on JFrog from $47.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Barclays cut their target price on JFrog from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Oppenheimer lowered JFrog from an “outperform” rating to a “market perform” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity Group decreased their price target on JFrog from $48.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.61.

JFrog Stock Up 2.2 %

FROG opened at $29.83 on Friday. The firm has a 50-day moving average price of $28.75 and a 200-day moving average price of $32.62. JFrog has a twelve month low of $22.91 and a twelve month high of $48.81. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -66.29 and a beta of 0.94.

Institutional Investors Weigh In On JFrog

Several institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new position in shares of JFrog in the second quarter valued at about $6,576,000. Russell Investments Group Ltd. lifted its holdings in JFrog by 394.2% in the 1st quarter. Russell Investments Group Ltd. now owns 28,664 shares of the company’s stock worth $1,268,000 after buying an additional 22,864 shares during the period. Thornburg Investment Management Inc. bought a new stake in shares of JFrog in the 1st quarter worth approximately $5,337,000. Quadrature Capital Ltd grew its position in shares of JFrog by 86.8% in the 1st quarter. Quadrature Capital Ltd now owns 119,025 shares of the company’s stock worth $5,263,000 after buying an additional 55,296 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of JFrog during the first quarter valued at approximately $3,251,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

Insider Buying and Selling at JFrog

In other news, CTO Yoav Landman sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $25.68, for a total value of $385,200.00. Following the completion of the sale, the chief technology officer now owns 6,642,242 shares of the company’s stock, valued at approximately $170,572,774.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Ben Haim Shlomi sold 35,550 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,066,500.00. Following the completion of the sale, the chief executive officer now owns 4,975,229 shares of the company’s stock, valued at approximately $149,256,870. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Yoav Landman sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $25.68, for a total transaction of $385,200.00. Following the completion of the transaction, the chief technology officer now owns 6,642,242 shares in the company, valued at $170,572,774.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,031 shares of company stock worth $4,003,447 over the last ninety days. Insiders own 15.70% of the company’s stock.

JFrog Company Profile

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.