Forge Global (FRGE) Stock Price, News & Analysis

Company Overview

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. Through its proprietary technology, Forge Global offers visibility into pricing trends, deal flow and market activity, enabling clients to make informed investment decisions. The platform also supports customized financing arrangements and structured products that cater to the unique needs of private-company shareholders and investors.

Founded in 2014 as Equidate by entrepreneur Mike Cagney, Forge Global rebranded in 2020 to reflect its broader commitment to reshaping private capital markets. In 2022, the company completed a business combination with a special purpose acquisition company, listing its shares on the New York Stock Exchange under the ticker FRGE. Since inception, Forge Global has expanded its reach beyond North America, establishing offices in key financial centers to serve clients in Europe and Asia.

Headquartered in San Francisco with additional operations in New York and London, Forge Global is led by a management team with deep experience in financial services, technology and regulatory compliance. Under the leadership of Chief Executive Officer Mike Cagney, the company continues to innovate in the private-market ecosystem, striving to enhance transparency, efficiency and access for stakeholders across the investment spectrum.

Key Stats

• Today's Range: $17.31 to $18.28
• 50-Day Range: $15.68 to $24.22
• 52-Week Range: $6.60 to $24.90
• Volume: 140,802 shs
• Average Volume: 101,431 shs
• Market Capitalization: $236.50 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $35.50
• Consensus Rating: Moderate Buy

Forge Global Stock Analysis - MarketRank™

Forge Global scored higher than 72% of companies evaluated by MarketBeat, and ranked 579th out of 941 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.6 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Forge Global has received a consensus rating of Moderate Buy. The company's average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings.

Upside Potential

Forge Global has a consensus price target of $35.50, representing about 101.0% upside from its current price of $17.66.

Amount of Analyst Coverage

Forge Global has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Forge Global are expected to grow in the coming year, from ($0.37) to ($0.25) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Forge Global is -3.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Forge Global is -3.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Forge Global has a P/B Ratio of 0.96. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

3.01% of the float of Forge Global has been sold short.

Short Interest Ratio / Days to Cover

Forge Global has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Forge Global has recently decreased by 6.87%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Forge Global does not currently pay a dividend.

Dividend Growth

Forge Global does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

3.01% of the float of Forge Global has been sold short.

Short Interest Ratio / Days to Cover

Forge Global has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Forge Global has recently decreased by 6.87%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: N/A
• News Sentiment: N/A

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Forge Global insiders have sold 405.08% more of their company's stock than they have bought. Specifically, they have bought $44,168.00 in company stock and sold $223,085.00 in company stock.

Percentage Held by Insiders

Only 4.50% of the stock of Forge Global is held by insiders.

Percentage Held by Institutions

40.67% of the stock of Forge Global is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

FRGE Stock Analysis - Frequently Asked Questions

How have FRGE shares performed this year?

Forge Global's stock was trading at $13.95 at the beginning of 2025. Since then, FRGE stock has increased by 26.6% and is now trading at $17.66.

How were Forge Global's earnings last quarter?

Forge Global Holdings, Inc. (NYSE:FRGE) released its earnings results on Wednesday, July, 30th. The company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.17. The business had revenue of $27.74 million for the quarter, compared to analyst estimates of $21 million. Forge Global had a negative net margin of 73.62% and a negative trailing twelve-month return on equity of 28.21%.
Read the conference call transcript.

When did Forge Global's stock split?

Forge Global's stock reverse split on the morning of Tuesday, April 15th 2025.The 1-15 reverse split was announced on Monday, March 31st 2025. The number of shares owned by shareholders was adjusted after the market closes on Monday, April 14th 2025. An investor that had 100 shares of stock prior to the reverse split would have 7 shares after the split.

Is Forge Global buying back stock?

Forge Global's Board of Directors authorized a stock buyback plan on Wednesday, March 5th 2025, which permits the company to repurchase $10,000,000 in shares, according to EventVestor. This means that the company could purchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Who are Forge Global's major shareholders?

Forge Global's top institutional shareholders include US Bancorp DE (1.86%), Geode Capital Management LLC (1.69%), AWM Investment Company Inc. (1.52%) and Raymond James Financial Inc. (0.73%). Insiders that own company stock include Kelly Rodriques, Drew Sievers, James Nevin, Jennifer Phillips, Kimberley H Vogel and Christoph Hansmeyer.
View institutional ownership trends.

How do I buy shares of Forge Global?

Shares of FRGE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Forge Global own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Forge Global investors own include NVIDIA (NVDA), Meta Platforms (META), Home Depot (HD), Advanced Micro Devices (AMD), Tesla (TSLA), Netflix (NFLX) and Palo Alto Networks (PANW).

Company Calendar

• Last Earnings: 7/30/2025
• Today: 9/19/2025
• Next Earnings (Estimated): 11/05/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: FIN - MISC SVCS
• Sub-Industry: Trading
• Current Symbol: NYSE:FRGE
• CIK: 1827821
• Web: forgeglobal.com
• Phone: 415-881-1612
• Fax: N/A
• Employees: 3
• Year Founded: N/A

Price Target and Rating

• Average Price Target for Forge Global: $35.50
• High Price Target: $60.00
• Low Price Target: $18.00
• Potential Upside/Downside: +100.4%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.75
• Research Coverage: 4 Analysts

Profitability

• EPS (Trailing Twelve Months): ($5.33)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: -$66.33 million
• Net Margins: -73.62%
• Pretax Margin: -67.86%
• Return on Equity: -28.21%
• Return on Assets: -24.21%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 3.98
• Quick Ratio: 3.98

Sales & Book Value

• Annual Sales: $79.33 million
• Price / Sales: 3.04
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $18.37 per share
• Price / Book: 0.96

Miscellaneous

• Outstanding Shares: 13,600,000
• Free Float: 12,989,000
• Market Cap: $240.92 million
• Optionable: Optionable
• Beta: 2.28