JFrog Analysts Slash Their Forecasts Following Weak Q2 Sales
Portfolio Pulse from Avi Kapoor
JFrog Ltd. (NASDAQ:FROG) reported weaker-than-expected Q2 sales and issued FY24 guidance below estimates. Despite beating earnings per share estimates, the company missed revenue expectations. Analysts have subsequently lowered their price targets, with one downgrade from Outperform to Perform.
August 08, 2024 | 1:13 pm
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JFrog reported weaker-than-expected Q2 sales and issued FY24 guidance below estimates. Despite beating EPS estimates, the company missed revenue expectations. Analysts have lowered their price targets, with one downgrade from Outperform to Perform.
The weaker-than-expected Q2 sales and lower FY24 guidance indicate potential challenges ahead for JFrog. The negative sentiment is reinforced by multiple analysts lowering their price targets and one downgrade, suggesting a likely short-term decline in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100