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Forge Global Holdings, Inc.NYSE:FRGE Stock Report

Market Cap US$614.2m
Share Price
US$44.27
n/a
1Y224.4%
7D-0.2%
Portfolio Value
​
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Forge Global Holdings, Inc.

NYSE:FRGE Stock Report

Market Cap: US$614.2m

Forge Global Holdings (FRGE) Stock Overview

Operates a financial services platform in California. More details

FRGE fundamental analysis
Snowflake Score
Valuation1/6
Future Growth2/6
Past Performance0/6
Financial Health6/6
Dividends0/6

Rewards

Revenue is forecast to grow 21.26% per year

Risk Analysis

Highly volatile share price over the past 3 months compared to the US market

Currently unprofitable and not forecast to become profitable over the next 3 years


FRGE Community Fair Values

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See what 7 others think this stock is worth. Follow their fair value or set your own to get alerts.

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Forge Global Holdings

Fierce Regulation And Intense Competition Will Stifle Future Value

Key Takeaways Heightened regulation, macroeconomic pressures, and shifting investor preferences threaten to suppress transaction growth, reduce demand, and constrain Forge's platform earnings. Intensifying competition and irregular transaction volumes could compress margins, drive earnings volatility, and challenge Forge's path to sustainable profitability.
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US$18
FV
145.9% overvalued intrinsic discount
15.67%
Revenue growth p.a.
7
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Forge Global Holdings

Digitalization And Regulatory Changes Will Drive Market Expansion

Key Takeaways Regulatory changes and platform innovation are expanding the potential customer base and operational scalability, supporting greater platform engagement and higher revenue growth. Enhanced product offerings and cost efficiencies are diversifying revenue streams and improving margins, increasing the company's prospects for long-term profitability.
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US$45
FV
1.6% undervalued intrinsic discount
22.48%
Revenue growth p.a.
42
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6users have followed this narrative
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Forge Global Holdings

Secular Trends And Fintech Integration Will Revolutionize Private Market Platforms

Key Takeaways Scalable technology and network effects position Forge for significant margin gains, recurring revenues, and accelerated user and transaction growth beyond analyst expectations. Regulatory changes and product innovations uniquely position Forge to capture new investor segments, unlock high-margin revenue, and sustain above-average growth as private markets expand.
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US$60
FV
26.2% undervalued intrinsic discount
20.72%
Revenue growth p.a.
8
users have viewed this narrative
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
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Forge Global Holdings, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Forge Global Holdings
Historical stock prices
Current Share PriceUS$44.27
52 Week HighUS$44.76
52 Week LowUS$6.60
Beta2.18
1 Month Change-0.20%
3 Month Change160.11%
1 Year Change224.41%
3 Year Change94.18%
5 Year Changen/a
Change since IPO-71.37%

Recent News & Updates

Recent updates

Forge Global Holdings, Inc.'s (NYSE:FRGE) Shares Leap 30% Yet They're Still Not Telling The Full Story

Oct 29
Forge Global Holdings, Inc.'s (NYSE:FRGE) Shares Leap 30% Yet They're Still Not Telling The Full Story

Forge Global: Favorable View Of Bank Alliance And Profitability Prospects

Sep 25

Cautious Investors Not Rewarding Forge Global Holdings, Inc.'s (NYSE:FRGE) Performance Completely

Aug 01
Cautious Investors Not Rewarding Forge Global Holdings, Inc.'s (NYSE:FRGE) Performance Completely

Forge Global: Hold Amid Uncertainty In The Market

Apr 28

Market Cool On Forge Global Holdings, Inc.'s (NYSE:FRGE) Revenues Pushing Shares 39% Lower

Apr 05
Market Cool On Forge Global Holdings, Inc.'s (NYSE:FRGE) Revenues Pushing Shares 39% Lower
User avatar

Automated Trading Platform Will Energize Private Market Ecosystem

Advanced trading platform and improved data transparency are set to enhance investor participation and drive revenue growth.

Even With A 27% Surge, Cautious Investors Are Not Rewarding Forge Global Holdings, Inc.'s (NYSE:FRGE) Performance Completely

Feb 19
Even With A 27% Surge, Cautious Investors Are Not Rewarding Forge Global Holdings, Inc.'s (NYSE:FRGE) Performance Completely

Forge Global Holdings, Inc.'s (NYSE:FRGE) Shares Leap 27% Yet They're Still Not Telling The Full Story

Dec 15
Forge Global Holdings, Inc.'s (NYSE:FRGE) Shares Leap 27% Yet They're Still Not Telling The Full Story

Analysts Have Just Cut Their Forge Global Holdings, Inc. (NYSE:FRGE) Revenue Estimates By 12%

Nov 12
Analysts Have Just Cut Their Forge Global Holdings, Inc. (NYSE:FRGE) Revenue Estimates By 12%

Analyst Estimates: Here's What Brokers Think Of Forge Global Holdings, Inc. (NYSE:FRGE) After Its Second-Quarter Report

Aug 10
Analyst Estimates: Here's What Brokers Think Of Forge Global Holdings, Inc. (NYSE:FRGE) After Its Second-Quarter Report

Forge Global: Turning Bullish On Results Beat And Positive Outlook (Rating Upgrade)

Aug 08

Analysts Have Lowered Expectations For Forge Global Holdings, Inc. (NYSE:FRGE) After Its Latest Results

Mar 29
Analysts Have Lowered Expectations For Forge Global Holdings, Inc. (NYSE:FRGE) After Its Latest Results

Forge Global Holdings, Inc. (NYSE:FRGE) Looks Just Right With A 42% Price Jump

Mar 27
Forge Global Holdings, Inc. (NYSE:FRGE) Looks Just Right With A 42% Price Jump

Investors Appear Satisfied With Forge Global Holdings, Inc.'s (NYSE:FRGE) Prospects As Shares Rocket 29%

Dec 22
Investors Appear Satisfied With Forge Global Holdings, Inc.'s (NYSE:FRGE) Prospects As Shares Rocket 29%

Forge Global: No Catalysts In Sight

Nov 14

Forge Global: Consider Both Q2 Miss And H2 Outlook

Aug 09

Shareholder Returns

FRGEUS Capital MarketsUS Market
7D-0.2%2.0%1.0%
1Y224.4%17.2%14.8%

Return vs Industry: FRGE exceeded the US Capital Markets industry which returned 15.2% over the past year.

Return vs Market: FRGE exceeded the US Market which returned 14.4% over the past year.

Price Volatility

Is FRGE's price volatile compared to industry and market?
FRGE volatility
FRGE Average Weekly Movement20.7%
Capital Markets Industry Average Movement3.4%
Market Average Movement6.5%
10% most volatile stocks in US Market17.0%
10% least volatile stocks in US Market3.0%

Stable Share Price: FRGE's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: FRGE's weekly volatility (21%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
2014300Kelly Rodriqueswww.forgeglobal.com

Forge Global Holdings, Inc. operates a financial services platform in California. The company’s platform solutions include marketplace solutions, a private market platform which is designed to connect buyers looking to invest in private companies and sellers of company shares and related products; private company solutions, a private company to deliver comprehensive, tailored solutions for their liquidity and capital formation; asset management solutions for fund creation and management, redemption of fund units, and secured cash management; and data solutions for derived data and indices. It also provides custody solutions for self-directed IRA accounts and custody-as-a-service.

Forge Global Holdings, Inc. Fundamentals Summary

How do Forge Global Holdings's earnings and revenue compare to its market cap?
FRGE fundamental statistics
Market capUS$614.23m
Earnings (TTM)-US$62.62m
Revenue (TTM)US$92.88m
6.6x
P/S Ratio
-9.7x
P/E Ratio

Is FRGE overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FRGE income statement (TTM)
RevenueUS$92.88m
Cost of RevenueUS$951.00k
Gross ProfitUS$91.93m
Other ExpensesUS$154.55m
Earnings-US$62.62m

Last Reported Earnings

Sep 30, 2025

Next Earnings Date

n/a

Earnings per share (EPS)-4.55
Gross Margin98.98%
Net Profit Margin-67.42%
Debt/Equity Ratio0%

How did FRGE perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/22 09:13
End of Day Share Price 2025/12/22 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Forge Global Holdings, Inc. is covered by 6 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Devin RyanCitizens JMP Securities, LLC
Richard RepettoPiper Sandler Companies
Patrick MoleyPiper Sandler Companies