JFrog (NASDAQ:FROG) Releases FY 2021 Earnings Guidance

JFrog (NASDAQ:FROG) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.040-$0.050 for the period, compared to the Thomson Reuters consensus 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.

Shares of FROG stock traded up $0.57 during mid-day trading on Thursday, hitting $33.62. 528,247 shares of the stock traded hands, compared to its average volume of 1,011,225. JFrog has a twelve month low of $31.17 and a twelve month high of $73.61. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -70.04 and a beta of 0.73. The company’s 50-day simple moving average is $34.69 and its 200-day simple moving average is $39.29.

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

A number of equities analysts recently issued reports on FROG shares. Morgan Stanley decreased their target price on JFrog from $63.00 to $40.00 and set an equal weight rating on the stock in a report on Friday, August 20th. Zacks Investment Research upgraded JFrog from a strong sell rating to a hold rating in a report on Wednesday, October 6th. Needham & Company LLC lifted their target price on JFrog from $66.00 to $71.00 and gave the stock a buy rating in a report on Monday, November 8th. Finally, Oppenheimer decreased their target price on JFrog from $61.00 to $55.00 and set an outperform rating on the stock in a report on Friday, August 6th. 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 currently has a consensus rating of Hold and an average price target of $62.57.

In related news, Director Jeff Horing sold 74,535 shares of JFrog stock in a transaction on 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 this hyperlink. Also, CEO Ben Haim Shlomi sold 175,000 shares of JFrog stock in a transaction on Monday, November 15th. The shares were 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. Insiders own 38.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. UBS Group AG increased its stake in shares of JFrog by 147.1% in the third quarter. UBS Group AG now owns 45,015 shares of the company’s stock worth $1,508,000 after purchasing an additional 26,797 shares during the period. Royal Bank of Canada increased its stake in shares of JFrog by 22.0% in the third quarter. Royal Bank of Canada now owns 8,807 shares of the company’s stock worth $294,000 after purchasing an additional 1,591 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of JFrog in the third quarter worth about $230,000. Finally, Wells Fargo & Company MN increased its stake in shares of JFrog by 29.4% in the second quarter. Wells Fargo & Company MN now owns 16,090 shares of the company’s stock worth $733,000 after purchasing an additional 3,659 shares during the period. 49.87% of the stock is owned by institutional investors.

About JFrog

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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