ForgeRock, Inc. (NYSE:FORG – Get Rating) – William Blair lowered their Q2 2022 earnings per share estimates for ForgeRock in a research report issued on Wednesday, May 11th. William Blair analyst J. Ho now expects that the company will post earnings per share of ($0.22) for the quarter, down from their prior estimate of ($0.14). William Blair also issued estimates for ForgeRock’s Q4 2022 earnings at ($0.03) EPS, FY2022 earnings at ($0.43) EPS, Q2 2023 earnings at ($0.12) EPS and FY2023 earnings at ($0.23) EPS.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded ForgeRock from a “sell” rating to a “hold” rating in a research note on Friday. KeyCorp began coverage on ForgeRock in a research note on Monday, April 4th. They issued a “sector weight” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on ForgeRock from $16.00 to $15.00 in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on ForgeRock from $41.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. Finally, Mizuho dropped their target price on ForgeRock from $32.00 to $24.00 in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $26.56.
ForgeRock (NYSE:FORG – Get Rating) last released its earnings results on Wednesday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.05.
Several large investors have recently bought and sold shares of FORG. ETF Managers Group LLC purchased a new stake in shares of ForgeRock in the fourth quarter worth $47,851,000. Matrix Capital Management Company LP purchased a new stake in shares of ForgeRock in the third quarter worth $38,930,000. Light Street Capital Management LLC raised its position in shares of ForgeRock by 435.6% in the fourth quarter. Light Street Capital Management LLC now owns 1,226,401 shares of the company’s stock worth $32,733,000 after buying an additional 997,431 shares in the last quarter. Bamco Inc. NY purchased a new stake in shares of ForgeRock in the third quarter worth $24,253,000. Finally, BlackRock Inc. purchased a new stake in shares of ForgeRock in the third quarter worth $19,466,000. Hedge funds and other institutional investors own 45.15% of the company’s stock.
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.
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