ForgeRock (NYSE:FORG) Reaches New 12-Month Low at $17.50

Shares of ForgeRock Inc (NYSE:FORG) hit a new 52-week low on Thursday . The company traded as low as $17.50 and last traded at $17.54, with a volume of 1290 shares changing hands. The stock had previously closed at $17.84.

A number of brokerages have recently weighed in on FORG. BTIG Research began coverage on ForgeRock in a research report on Monday, October 11th. They issued a “buy” rating and a $40.00 price target for the company. Mizuho began coverage on ForgeRock in a research report on Monday, October 11th. They issued a “buy” rating and a $40.00 price target for the company. Cowen began coverage on ForgeRock in a research report on Monday, October 11th. They issued an “outperform” rating and a $45.00 price target for the company. Truist began coverage on ForgeRock in a research report on Monday, October 11th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Piper Sandler raised their price target on ForgeRock from $30.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, January 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $37.40.

The company has a debt-to-equity ratio of 0.11, a current ratio of 5.89 and a quick ratio of 5.89. The company’s 50 day simple moving average is $25.58.

ForgeRock (NYSE:FORG) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.10. The company had revenue of $44.23 million for the quarter, compared to analyst estimates of $38.37 million. Research analysts predict that ForgeRock Inc will post -0.93 earnings per share for the current fiscal year.

In other ForgeRock news, EVP Peter M. Barker sold 9,000 shares of the firm’s stock in a transaction dated Friday, December 10th. The stock was sold at an average price of $25.91, for a total value of $233,190.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder A.S. Gravityrock sold 64,428 shares of the firm’s stock in a transaction dated Monday, December 6th. The stock was sold at an average price of $25.10, for a total value of $1,617,142.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,256 shares of company stock worth $4,644,185.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Matrix Capital Management Company LP acquired a new position in shares of ForgeRock in the 3rd quarter valued at about $38,930,000. Bamco Inc. NY acquired a new position in shares of ForgeRock in the 3rd quarter valued at about $24,253,000. BlackRock Inc. acquired a new position in shares of ForgeRock in the 3rd quarter valued at about $19,466,000. Neuberger Berman Group LLC acquired a new position in shares of ForgeRock in the 3rd quarter valued at about $18,927,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of ForgeRock in the 3rd quarter valued at about $17,359,000. 27.06% of the stock is currently owned by institutional investors and hedge funds.

ForgeRock Company Profile (NYSE:FORG)

ForgeRock Inc provides digital identity, delivers modern identity and access management solutions for consumers, employees and things to simply and safely access the connected world. ForgeRock Inc is based in SAN FRANCISCO.

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