JFrog (NASDAQ:FROG) Issues FY 2021 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $0.040-$0.050 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.030. The company issued revenue guidance of $205 million-$206 million, compared to the consensus revenue estimate of $203.68 million.JFrog also updated its Q4 2021 guidance to $0.000-$0.010 EPS.

NASDAQ:FROG traded up $0.57 during trading hours on Thursday, hitting $33.62. 528,247 shares of the stock were exchanged, compared to its average volume of 1,011,225. The company’s 50 day moving average is $34.69 and its two-hundred day moving average is $39.29. JFrog has a twelve month low of $31.17 and a twelve month high of $73.61. The company has a market capitalization of $3.10 billion, a P/E ratio of -70.04 and a beta of 0.73.

JFrog (NASDAQ:FROG) last posted its quarterly earnings data on Thursday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. JFrog had a negative return on equity of 6.58% and a negative net margin of 23.78%. The firm had revenue of $53.70 million for the quarter, compared to the consensus estimate of $52.53 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was up 38.1% compared to the same quarter last year. On average, research analysts anticipate that JFrog will post -0.33 earnings per share for the current fiscal year.

FROG has been the topic of a number of analyst reports. Zacks Investment Research raised JFrog from a strong sell rating to a hold rating in a research note on Wednesday, October 6th. Morgan Stanley cut their price target on JFrog from $63.00 to $40.00 and set an equal weight rating on the stock in a research note on Friday, August 20th. Oppenheimer cut their price target on JFrog from $61.00 to $55.00 and set an outperform rating on the stock in a research note on Friday, August 6th. Finally, Needham & Company LLC increased their price target on JFrog from $66.00 to $71.00 and gave the company a buy rating in a research note on Monday, November 8th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $62.57.

In other JFrog news, Director Jeff Horing sold 74,535 shares of the stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $37.55, for a total transaction of $2,798,789.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ben Haim Shlomi sold 175,000 shares of the stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $36.18, for a total value of $6,331,500.00. The disclosure for this sale can be found here. 38.30% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of FROG. UBS Group AG boosted its stake in shares of JFrog by 147.1% during the 3rd quarter. UBS Group AG now owns 45,015 shares of the company’s stock worth $1,508,000 after buying an additional 26,797 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of JFrog during the 3rd quarter worth about $230,000. Wells Fargo & Company MN boosted its stake in shares of JFrog by 29.4% during the 2nd quarter. Wells Fargo & Company MN now owns 16,090 shares of the company’s stock worth $733,000 after buying an additional 3,659 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of JFrog by 22.0% during the 3rd quarter. Royal Bank of Canada now owns 8,807 shares of the company’s stock worth $294,000 after buying an additional 1,591 shares during the last quarter. Institutional investors own 49.87% of the company’s stock.

JFrog Company Profile

JFrog Ltd. provides DevOps platform to achieve continuous software release management platform enabling organizations to deliver software updates across any system in the United States. Its platform acts as a bridge between software development and deployment, which enables organizations to build and release software faster and securely.

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