Brokerages Set Forge Global Holdings, Inc. (NYSE:FRGE) PT at $42.00

Forge Global Holdings, Inc. (NYSE:FRGE) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.00.

A number of research analysts have recently commented on FRGE shares. UBS Group downgraded Forge Global from a “buy” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $45.00 in a report on Tuesday, November 11th. 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 report on Thursday, November 6th. Citizens Jmp reiterated a “market perform” rating on shares of Forge Global in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th.

Institutional Trading of Forge Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Forge Global in the 4th quarter valued at about $1,753,000. Gamco Investors INC. ET AL acquired a new position in Forge Global during the fourth quarter worth approximately $2,941,000. Gabelli Funds LLC purchased a new position in shares of Forge Global during the fourth quarter worth approximately $4,042,000. Versor Investments LP acquired a new position in shares of Forge Global in the 4th quarter valued at $3,350,000. Finally, ABC Arbitrage SA purchased a new stake in Forge Global in the 4th quarter valued at $4,213,000. Institutional investors and hedge funds own 40.67% of the company’s stock.

Forge Global Stock Performance

FRGE stock opened at $44.67 on Thursday. The company’s 50 day moving average price is $44.56 and its 200 day moving average price is $30.75. The firm has a market capitalization of $618.64 million, a price-to-earnings ratio of -8.59 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.

Forge Global Company Profile

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.