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

Forge Global Holdings, Inc. (NYSE:FRGE) has been assigned a consensus recommendation of “Reduce” from the six analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $42.00.

A number of research firms have recently commented on FRGE. Citizens Jmp reiterated a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th. Piper Sandler lowered Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Thursday, November 6th. 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. Wall Street Zen upgraded shares of Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Citigroup downgraded shares of Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th.

Forge Global Price Performance

Shares of FRGE opened at $45.00 on Monday. The company has a market capitalization of $623.03 million, a price-to-earnings ratio of -8.65 and a beta of 2.18. Forge Global has a 52-week low of $6.60 and a 52-week high of $45.03. The stock has a 50 day moving average price of $44.67 and a 200 day moving average price of $33.80.

Institutional Trading of Forge Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Forge Global in the 4th quarter valued at approximately $34,000. Meteora Capital LLC acquired a new stake in shares of Forge Global during the fourth quarter worth $46,000. Longfellow Investment Management Co. LLC purchased a new position in Forge Global in the 4th quarter valued at $76,000. BNP Paribas Financial Markets increased its stake in Forge Global by 303.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock valued at $36,000 after buying an additional 1,613 shares during the period. Finally, PenderFund Capital Management Ltd. acquired a new position in Forge Global in the 4th quarter valued at $102,000. 40.67% of the stock is owned by hedge funds and other institutional investors.

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.