Wall Street Analyst Initiated ForgeRock Inc. [FORG]. What else is Wall St. saying

ForgeRock Inc. [NYSE: FORG] closed the trading session at $21.49 on 12/08/22. The day’s price range saw the stock hit a low of $21.405, while the highest price level was $21.54. The company report on November 15, 2022 that ForgeRock Introduces New Cloud-Native Governance Solution.

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Company introduces cloud-native workforce offering for large enterprises that combines governance, identity and access management, and powerful AI into a single platform.

ForgeRock® (NYSE: FORG), a global digital identity leader, today announced its new ForgeRock Identity Governance solution, a comprehensive cloud-native governance offering designed to help solve security and compliance challenges for large enterprises at scale. By converging ForgeRock Identity Governance with the company’s industry leading Identity and Access Management platform, enterprises gain efficiencies and cost savings with the ability to manage, secure, and govern identities throughout their entire lifecycle – all from a single platform.

The stocks have a year to date performance of -19.48 percent and weekly performance of -1.01 percent. The stock has been moved at 15.48 percent over the last six months. The stock has performed -4.53 percent around the most recent 30 days and changed 23.22 percent over the most recent 3-months.

If compared to the average trading volume of 1.73M shares, FORG reached to a volume of 3606647 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about ForgeRock Inc. [FORG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FORG shares is $22.32 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FORG stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for ForgeRock Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Sector Weight. The new note on the price target was released on April 05, 2022, representing the official price target for ForgeRock Inc. stock. Previously, the target price had yet another raise to $38, while Truist analysts kept a Buy rating on FORG stock.

The Average True Range (ATR) for ForgeRock Inc. is set at 0.22, with the Price to Sales ratio for FORG stock in the period of the last 12 months amounting to 5.08. The Price to Book ratio for the last quarter was 5.87, with the Price to Cash per share for the same quarter was set at 7.17.

FORG stock trade performance evaluation

ForgeRock Inc. [FORG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.01. With this latest performance, FORG shares dropped by -4.53% in over the last four-week period, additionally plugging by 15.48% over the last 6 months – not to mention a drop of -19.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FORG stock in for the last two-week period is set at 44.95, with the RSI for the last a single of trading hit 31.85, and the three-weeks RSI is set at 52.00 for ForgeRock Inc. [FORG]. The present Moving Average for the last 50 days of trading for this stock 21.10, while it was recorded at 21.55 for the last single week of trading, and 19.73 for the last 200 days.

ForgeRock Inc. [FORG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ForgeRock Inc. [FORG] shares currently have an operating margin of -16.07 and a Gross Margin at +81.39. ForgeRock Inc.’s Net Margin is presently recorded at -27.00.

Return on Equity for this stock declined to -25.31, with Return on Assets sitting at -14.35.

ForgeRock Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.

ForgeRock Inc. [FORG]: Insider Ownership positions

There are presently around $594 million, or 58.50% of FORG stock, in the hands of institutional investors. The top three institutional holders of FORG stocks are: RIVERWOOD CAPITAL MANAGEMENT LTD. with ownership of 4,567,950, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; MERITECH CAPITAL ASSOCIATES IV L.L.C., holding 3,463,200 shares of the stock with an approximate value of $74.42 million in FORG stocks shares; and VANGUARD GROUP INC, currently with $61.66 million in FORG stock with ownership of nearly 28.109% of the company’s market capitalization.

Positions in ForgeRock Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 57 institutional holders increased their position in ForgeRock Inc. [NYSE:FORG] by around 3,341,252 shares. Additionally, 34 investors decreased positions by around 4,099,867 shares, while 14 investors held positions by with 20,217,282 shares. The mentioned changes placed institutional holdings at 27,658,401 shares, according to the latest SEC report filing. FORG stock had 25 new institutional investments in for a total of 914,894 shares, while 10 institutional investors sold positions of 664,183 shares during the same period.


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