Software supply chain platform JFrog (NASDAQ: FROG) will be announcing earnings results this Thursday after market close. Here’s what you need to know.
JFrog beat analysts’ revenue expectations last quarter, reporting revenues of $154 million, up 25.8% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ billings estimates and EPS guidance for next quarter exceeding analysts’ expectations. It added 57 enterprise customers paying more than $100,000 annually to reach a total of 1,225.
Is JFrog a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting JFrog’s revenue to grow 22.3% year on year, slowing from the 23.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. JFrog rarely misses Wall Street’s revenue estimates.
Looking at JFrog’s peers in the software development segment, some have already reported their Q2 results, giving us a hint as to what we can expect. F5 delivered year-on-year revenue growth of 10.9%, beating analysts’ expectations by 3.6%, and Bandwidth reported revenues up 22.2%, topping estimates by 1.4%. F5 traded down 1.1% following the results while Bandwidth was also down 25.7%.
Read our full analysis of F5’s results here and Bandwidth’s results here.
There has been positive sentiment among investors in the software development segment, with share prices up 9.6% on average over the last month. JFrog is down 13.2% during the same time and is heading into earnings with an average analyst price target of $94.38 (compared to the current share price of $85.17).
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