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Monday, June 5, 2023

Analysts Point To ForgeRock Inc. (NYSE: FORG) Growth In The Future

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for ForgeRock Inc. (FORG) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.1371, or -0.68%, to $19.9129. The ForgeRock Inc. has recorded 2,321 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that ForgeRock Announces First Quarter 2023 Financial Results.

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Stocks Info

As a NYSE listed company, FORG falls under the Technology sector while operating within the Software – Infrastructure industry segment. At the end of the last regular session, the stock closed at $20.05 and fluctuated between $20.08 as its day high and $19.65 as its day low. The current market capitalization of ForgeRock Inc. is $1.78B. A total of 0.84 million shares were traded on the day, compared to an average of 672.96K shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, FORG has seen 8 BUY and 12 SELL insider trades, representing the acquisition of 933,474 and the disposition of 530,048 shares. Over the last 12 months, there were 33 BUYs and 21 SELLs from insiders. Insiders purchased 9,746,779 shares during that period but sold 10,541,489.

In the most recent transaction, Barker Peter M sold 2,084 shares of FORG for 19.97 per share on May 01. After the transaction, the Chief Product Officer & EVP now owns 220,273 company shares. In a previous transaction on Apr 17, Fernandez Juan P sold 7,152 shares at 20.49 per share. FORG shares that CFO, Executive VP – Global owns now total 641,472.

Among the insiders who sold shares, Barker Peter M disposed of 2,083 shares on Apr 03 at a per-share price of $20.58. This resulted in the Chief Product Officer & EVP holding 220,273 shares of FORG after the transaction. In another insider transaction, Barker Peter M sold 97,438 shares at $20.39 per share on Mar 27. Company shares held by the Chief Product Officer & EVP now total 91,241.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for FORG in the last 3 months, the mean price target is $23.21 with high estimates of $23.25 and low estimates of $23.00. In terms of 52-week highs and lows, FORG has a high of $25.00 and a low of $12.80.

As of this writing, FORG has an earnings estimate of -$0.1 per share for the current quarter. EPS was calculated based on a consensus of 8 estimates, with a high estimate of -$0.03 per share and a lower estimate of -$0.17. The company reported an EPS of -$0.02 in the last quarter, which was 50.00% higher than expectations of -$0.04.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. FORG’s latest balance sheet shows that the firm has $369.79M in Cash & Short Term Investments as of fiscal 2021. There were $52.34M in debt and $100.71M in liabilities at the time. Its Book Value Per Share was $3.67, while its Total Shareholder’s Equity was $336.13M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for FORG is Buy with a score of 3.00.

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