Brokerages Anticipate JFrog Ltd. (NASDAQ:FROG) Will Announce Quarterly Sales of $65.58 Million

Brokerages forecast that JFrog Ltd. (NASDAQ:FROGGet Rating) will report $65.58 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for JFrog’s earnings, with the lowest sales estimate coming in at $65.00 million and the highest estimate coming in at $66.00 million. JFrog posted sales of $48.66 million in the same quarter last year, which indicates a positive year over year growth rate of 34.8%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that JFrog will report full-year sales of $277.08 million for the current fiscal year, with estimates ranging from $274.69 million to $278.20 million. For the next fiscal year, analysts anticipate that the firm will report sales of $353.49 million, with estimates ranging from $340.33 million to $362.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover JFrog.

JFrog (NASDAQ:FROGGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). JFrog had a negative net margin of 33.74% and a negative return on equity of 9.02%. The business had revenue of $63.70 million during the quarter, compared to the consensus estimate of $61.32 million.

Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded JFrog from a “buy” rating to a “hold” rating in a report on Wednesday, May 18th. Oppenheimer cut their price objective on JFrog from $45.00 to $37.00 in a report on Tuesday, May 10th. Piper Sandler cut their price objective on JFrog from $24.00 to $20.00 in a report on Thursday, May 26th. Stifel Nicolaus cut their price objective on JFrog from $36.00 to $29.00 in a report on Tuesday, May 10th. Finally, Needham & Company LLC cut their price objective on JFrog from $32.00 to $23.00 in a report on Tuesday, May 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $28.33.

In other news, CFO Yakov (Jacob) Shulman sold 6,000 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $17.82, for a total value of $106,920.00. Following the transaction, the chief financial officer now directly owns 320,922 shares of the company’s stock, valued at approximately $5,718,830.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Tali Notman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $22.93, for a total value of $343,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 48,074 shares of company stock worth $1,110,694 over the last ninety days. Company insiders own 33.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Insight Holdings Group LLC increased its position in JFrog by 3.1% in the 4th quarter. Insight Holdings Group LLC now owns 4,748,122 shares of the company’s stock valued at $141,019,000 after buying an additional 142,333 shares in the last quarter. Vanguard Group Inc. increased its position in JFrog by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 4,344,802 shares of the company’s stock valued at $117,092,000 after buying an additional 387,009 shares in the last quarter. BlackRock Inc. increased its position in JFrog by 3.1% in the 4th quarter. BlackRock Inc. now owns 2,922,164 shares of the company’s stock valued at $86,789,000 after buying an additional 88,376 shares in the last quarter. Capital Research Global Investors increased its position in JFrog by 1,375.7% in the 4th quarter. Capital Research Global Investors now owns 2,632,599 shares of the company’s stock valued at $78,188,000 after buying an additional 2,454,199 shares in the last quarter. Finally, Spark Growth Management Partners II LLC bought a new stake in JFrog in the 4th quarter valued at about $62,826,000. 65.75% of the stock is owned by institutional investors and hedge funds.

Shares of FROG opened at $18.93 on Thursday. JFrog has a 52-week low of $16.36 and a 52-week high of $50.31. The business’s fifty day moving average is $22.08 and its 200-day moving average is $25.68.

About JFrog (Get Rating)

JFrog Ltd. provides DevOps platform in the United States. The company's products include JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages at any scale; JFrog Pipelines, an integration/continuous delivery tool for automating and orchestrating the movement of software packages; JFrog Xray, which scan JFrog Artifactory; and JFrog Distribution that provides software package distribution with enterprise-grade performance.

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