JFrog Ltd is a technology company that specializes in providing a platform for software developers to manage and automate the software release process
Their offerings include tools for devops and continuous integration/continuous delivery (CI/CD), enabling teams to efficiently create, store, and distribute software packages across various environments. By streamlining the workflow from development to production, JFrog enhances collaboration, reduces time to market, and supports various programming languages and technologies, ensuring seamless integration throughout the software development lifecycle.
Growth is oxygen.
But when it evaporates, the consequences can be extreme - ask anyone who bought Cisco in the Dot-Com Bubble (Nvidia?) or newer investors who lived through the 2020 to 2022 COVID cycle.
Earnings news has catalyzed frenzied activity in these stocks, and irrespective of the directional moves, sentiment toward them has remained uniformly upbeat.
Shares of software development tools maker JFrog (NASDAQFROG)
jumped 15.3% in the pre-market session after the company reported strong fourth-quarter 2024 results, which revealed an acceleration in its new large contract wins, enabling it to exceed Wall Street's revenue and operating profit estimates, the latter by a very convincing amount. Cloud revenue importantly exceeded expectations. Adoption of its cloud business remained strong, now accounting for 43% of total revenue, up from 37% a year ago.
While revenue guidance for the full year was in line with Wall Street's estimates, full-year operating income guidance was ahead, showing better profitability. Again, Cloud revenue growth was guided ahead, allowing the market to look past the in line full-year total revenue guidance. Zooming out, we think this was a very solid quarter featuring some areas of strength for the stock.
Software development tools maker JFrog (NASDAQFROG) reported Q4 CY2024 results beating Wall Street’s revenue expectations, with sales up 19.4% year on year to $116.1 million. The company expects next quarter’s revenue to be around $117 million, close to analysts’ estimates. Its non-GAAP profit of $0.19 per share was 36.7% above analysts’ consensus estimates.
From commerce to culture, software is digitizing every aspect of our lives. The undeniable tailwinds fueling the industry have also led to strong returns for SaaS stocks lately
as they’ve gained 36.7% over the past six months, outpacing the S&P 500’s 11.3% rise.
Over the past six months, JFrog’s shares (currently trading at $32.56) have posted a disappointing 14% loss, well below the S&P 500’s 8.1% gain. This might have investors contemplating their next move.
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