ForgeRock, Inc. (NYSE:FORG) Short Interest Down 35.6% in April

ForgeRock, Inc. (NYSE:FORGGet Rating) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 1,250,000 shares, a decrease of 35.6% from the March 31st total of 1,940,000 shares. Based on an average trading volume of 611,400 shares, the days-to-cover ratio is presently 2.0 days. Approximately 7.1% of the shares of the stock are sold short.

A number of research firms have recently weighed in on FORG. BTIG Research cut their target price on ForgeRock from $40.00 to $24.00 in a research report on Monday, February 14th. Mizuho lowered their price target on ForgeRock from $40.00 to $32.00 in a report on Tuesday, January 18th. Zacks Investment Research cut ForgeRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on ForgeRock from $14.00 to $16.00 in a report on Wednesday, March 2nd. Finally, Cowen lowered their price target on ForgeRock from $45.00 to $38.00 in a report on Wednesday, March 2nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ForgeRock has a consensus rating of “Buy” and a consensus target price of $29.00.

Shares of FORG opened at $20.43 on Friday. ForgeRock has a 12-month low of $11.94 and a 12-month high of $48.88. The business has a 50-day simple moving average of $19.27 and a two-hundred day simple moving average of $22.05. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.12.

ForgeRock (NYSE:FORGGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The firm had revenue of $47.90 million during the quarter, compared to analyst estimates of $47.10 million. As a group, analysts expect that ForgeRock will post -0.37 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Davy Global Fund Management Ltd increased its stake in shares of ForgeRock by 25.1% in the first quarter. Davy Global Fund Management Ltd now owns 75,330 shares of the company’s stock valued at $1,651,000 after buying an additional 15,108 shares during the period. Bogart Wealth LLC acquired a new stake in shares of ForgeRock in the first quarter valued at about $77,000. Cutler Group LP acquired a new stake in shares of ForgeRock in the first quarter valued at about $40,000. Parametric Portfolio Associates LLC increased its stake in shares of ForgeRock by 69.9% in the fourth quarter. Parametric Portfolio Associates LLC now owns 17,573 shares of the company’s stock valued at $469,000 after buying an additional 7,231 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of ForgeRock during the 4th quarter valued at about $539,000. 27.02% of the stock is owned by institutional investors.

ForgeRock Company Profile (Get Rating)

ForgeRock, Inc, together with its subsidiaries, operates a digital identity platform to secure, manage, and govern the identities of customers, employees, partners, application programing interfaces (APIs), microservices, devices, and the Internet of things worldwide. It offers identity management products to automate onboarding/registration and progressive profiling, identity lifecycle and relationship management, identity provisioning and synchronization, user self-service, personalization, delegation, and privacy and consent management.

Read More

Receive News & Ratings for ForgeRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ForgeRock and related companies with MarketBeat.com's FREE daily email newsletter.