JFrog (NASDAQ:FROG), a software supply chain platform, jumped in trading after reporting better-than-expected Q4 results. The company reported Q4 adjusted earnings of $0.19 per diluted share compared to $0.04 per share in the same period last year. This was above Street estimates of $0.13 per share.
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The firm’s revenues increased by 27% year-over-year to $97.3 million, exceeding consensus estimates of $93.1 million.
Looking ahead to the first quarter, JFrog has projected adjusted earnings between $0.13 and $0.15 per diluted share on revenues of $98 million to $99 million. For FY24, the company has forecasted adjusted earnings between $0.58 and $0.60 per share on revenues of $424 million to $428 million.
Is FROG Stock a Good Buy?
Analysts remain bullish about FROG stock with a Strong Buy consensus rating based on six Buys and two Holds. Over the past year, FROG stock has increased by more than 50%, and the average FROG price target of $38.75 implies an upside potential of 4.5% at current levels.
