Forge Global Holdings, Inc. (NYSE:FRGE) Receives $42.00 Consensus PT from Analysts

Forge Global Holdings, Inc. (NYSE:FRGE) has earned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $42.00.

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

Forge Global Stock Performance

Forge Global stock opened at $44.60 on Friday. The company has a market capitalization of $606.56 million, a P/E ratio of -8.58 and a beta of 2.18. Forge Global has a fifty-two week low of $6.60 and a fifty-two week high of $44.88. The stock has a 50-day simple moving average of $44.03 and a 200-day simple moving average of $27.44.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its position in Forge Global by 305.0% in the 1st quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock valued at $109,000 after buying an additional 146,565 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Forge Global by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock worth $39,000 after buying an additional 2,964 shares during the last quarter. Brendel Financial Advisors LLC acquired a new stake in shares of Forge Global in the 2nd quarter worth $209,000. Truist Financial Corp purchased a new stake in shares of Forge Global in the second quarter valued at about $190,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Forge Global during the second quarter worth about $728,000. Institutional investors and hedge funds own 40.67% of the company’s stock.

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.