Israeli software company Jfrog: Revenue amounted to $ 53.7 million, up 38%

Israeli software company Jfrog is reporting good results for the third quarter. Revenue amounted to $ 53.7 million, up 38% from $ 38.9 million over the same period last year. The company beat analysts' forecasts for revenue of $ 52.5 million. The net loss per share was $ 0.01 - compared to analysts' expectations of $ 00.3 per share.
The company expects fourth-quarter revenue to be $ 57.5-58.5 million, with a net profit of $ 00.1. Revenue for the full year is expected to stand at $ 205-205 million.
The company's stock is trading at a value of $ 3.8 billion, and it has lost 44.9% since the beginning of the year. Hence the question arises, where does the stock turn to after such low performance? There is no easy answer to this key question, however, but one reliable index can help investors and that is, of course, the company's earnings forecast.
Prior to the publication of the report for the third quarter, the trend of revising the estimates for the company was mixed. While the size and direction of the estimates corrections may change following the company's newly released earnings report.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the coming days. The consensus estimate for the current fourth quarter is earnings of $ 0.03 per share, on revenue of $ 57.5 million, and $ 0.03 per share on revenue of $ 203.64 million for the current fiscal year.
Recently, the company acquired the Israeli startup company Upswift.io, which has developed technology that allows developers to update and manage connected devices (IoT) remotely, for an amount not disclosed by the parties, but the market estimates it at a few tens of millions of dollars. This deal joins the acquisition of VDOO in July. Jaiprog notes that the acquisition of Up-Swift is not expected to have a material effect on the results in the third quarter or in the entire year.