Jfrog Ltd Up 16.82% To $26.32 After Earnings Beat

Thursday, November 2, 2023 - Jfrog Ltd (FROG) reported upside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Jfrog Ltd were at $0.08. The company beat those estimates with an EPS of $0.15. The earnings per share of $0.15 (which represents a -88% EPS surprise) led to the company's profits rising 650% compared to last year when the firm reported an EPS of $0.02. The increase in Jfrog Ltd's annual growth rate represents how the business is performing well amid recent economic conditions.

Consensus analyst estimates were at $87.6 million. The Technology company managed to surpass those expectations for its third quarter with revenue of $88.6 million, a positive revenue surprise of $1.1 million (1%). The firm managed 23% growth year-over-year due to Jfrog Ltd reporting quarterly revenue of $72 million in its year-ago quarter. Jfrog Ltd achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is up 16.82% to $26.32 after the report.

Jfrog Ltd's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 50. Meanwhile, the average Wall Street analyst rated the stock a Buy.

JFrog Ltd provides an end-to-end, hybrid, universal DevOps Platform to achieve Continuous Software Release Management (CSRM). The CSRM platform enables organizations to continuously deliver software updates across any system. Geographically, it derives a majority of revenue from the United States. Its product portfolio includes JFrog Artifactory; JFrog Pipelines; JFrog Xray; JFrog Distribution; JFrog Artifactory Edge; JFrog Mission Control and JFrog Insight.