Why JFrog Stock Hopped Higher Today
Shares of JFrog (NASDAQ: FROG) are up 29.1% as of 1:30 p.m. ET Thursday after the supply chain software platform provider announced stronger-than-expected quarterly results and impressive forward guidance.
For its fourth quarter of 2023, JFrog's revenue grew 27% year over year to $97.3 million, translating to non-GAAP (adjusted) earnings of $0.19 per share. Analysts, on average, were only expecting earnings of $0.19 per share on revenue closer to $92.9 million.
JFrog co-founder and CEO Shlomi Ben Haim credited the company's outperformance to "solid execution" across each of its strategic pillars -- driving growth in the cloud, leveraging its complete software supply chain capabilities, and enhancing JFrog's security offerings -- as it transitions to an enterprise sales model.
Source Fool.com
