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

Forge Global Holdings, Inc. (NYSE:FRGE) has been given an average rating of “Hold” by the seven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $42.00.

A number of equities analysts recently commented on the stock. Piper Sandler lowered shares of 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Citizens Jmp restated a “market perform” rating on shares of Forge Global in a research note on Friday, December 12th. Finally, Citigroup downgraded Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th.

Forge Global Price Performance

FRGE stock opened at $44.69 on Thursday. Forge Global has a fifty-two week low of $6.60 and a fifty-two week high of $44.88. The stock has a market capitalization of $618.66 million, a price-to-earnings ratio of -8.59 and a beta of 2.18. The business’s fifty day moving average price is $44.58 and its two-hundred day moving average price is $31.31.

Hedge Funds Weigh In On Forge Global

Several hedge funds and other institutional investors have recently made changes to their positions in FRGE. AQR Capital Management LLC lifted its holdings in shares of Forge Global by 305.0% during the 1st quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock worth $109,000 after acquiring an additional 146,565 shares during the period. Millennium Management LLC lifted its stake in Forge Global by 220.7% during the third quarter. Millennium Management LLC now owns 188,260 shares of the company’s stock worth $3,182,000 after purchasing an additional 129,559 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Forge Global in the 2nd quarter valued at $1,891,000. ABC Arbitrage SA bought a new position in shares of Forge Global in the 4th quarter valued at $4,213,000. Finally, Gabelli Funds LLC acquired a new position in shares of Forge Global during the 4th quarter worth $4,042,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.

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.