Forge Global Holdings, Inc. (NYSE:FRGE) Receives $42.00 Average Price Target from Analysts

Forge Global Holdings, Inc. (NYSE:FRGE) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $42.00.

FRGE has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Forge Global in a research report on Wednesday, October 8th. UBS Group lowered shares of Forge Global from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $34.00 to $45.00 in a report on Tuesday, November 11th. Citizens Jmp restated a “market perform” rating on shares of Forge Global in a research note on Friday, December 12th. Piper Sandler downgraded Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target for the company. in a research note on Thursday, November 6th. Finally, Citigroup cut Forge Global from an “outperform” rating to a “market perform” rating in a research note on Friday, December 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Forge Global by 13.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 995,979 shares of the company’s stock worth $560,000 after acquiring an additional 115,536 shares during the period. Nuveen LLC bought a new position in Forge Global in the 1st quarter worth about $231,000. Whetstone Capital Advisors LLC acquired a new stake in shares of Forge Global in the first quarter valued at approximately $209,000. Alyeska Investment Group L.P. bought a new stake in shares of Forge Global during the first quarter valued at approximately $1,119,000. Finally, AWM Investment Company Inc. boosted its position in shares of Forge Global by 793.9% during the first quarter. AWM Investment Company Inc. now owns 3,928,927 shares of the company’s stock worth $2,208,000 after buying an additional 3,489,424 shares during the period. Institutional investors and hedge funds own 40.67% of the company’s stock.

Forge Global Stock Performance

Shares of NYSE:FRGE opened at $44.60 on Wednesday. The company has a market cap of $606.49 million, a P/E ratio of -8.58 and a beta of 2.18. Forge Global has a one year low of $6.60 and a one year high of $44.76. The business’s 50-day simple moving average is $35.27 and its 200 day simple moving average is $23.96.

About Forge Global

Forge Global is a financial technology company that operates a digital marketplace for trading shares in private companies. The platform connects shareholders, including employees and early investors, with accredited and institutional buyers seeking exposure to late-stage private ventures ahead of their initial public offerings. By facilitating secondary transactions, Forge Global aims to provide liquidity solutions that traditionally have been limited in private markets.

The company’s core services include trade execution, settlement, and custody for pre-IPO securities, supported by an integrated suite of portfolio management and data-analytics tools.