Jfrog shares leap 29% after quarterly results
15/02/2024 15:16
** Shares in Jfrog Ltd FROG.O up ~29% on Thursday, on track
for record one-day percentage gain after quarterly earnings and
revenue beat expectations in report issued late Wednesday
** FROG, a provider of tools for software developers,
reported adj EPS of $0.19 compared with expectation for $0.12
while rev of $97.26 mln was ahead of $93.04 mln, as per LSEG
** FROG forecast Q1 EPS of $0.13-$0.15 and rev of
$98mln-$99mln, FY 2024 EpS of $0.58-$0.60 on rev of
$424mln-$428mln as it sees "new opportunities for expansion in
security in 2024" as per its quarterly release
** Stock last traded at $47.87 after hitting session high
of $48.50, its highest point since July 2021, and compared with
median PT of $48.00, according to LSEG, which shows coverage by
14 analysts
** FROG has 4 'strong buy' ratings, 8 'buy' ratings and 2
'hold' recommendations, as per LSEG
** YTD the stock is up ~38% after rising 62.3% in 2023 after
falling in the previous 3 years
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +13322191897;))