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Forge Global Holdings (FRGE) Stock Overview
Operates a financial services platform in California. More details
| Snowflake Score | |
|---|---|
| Valuation | 0/6 |
| Future Growth | 2/6 |
| Past Performance | 0/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
FRGE Community Fair Values
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Analyst Price Targets
Forge Global Holdings, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$45.00 |
| 52 Week High | US$45.03 |
| 52 Week Low | US$6.60 |
| Beta | 2.18 |
| 1 Month Change | 0.67% |
| 3 Month Change | 1.76% |
| 1 Year Change | 237.44% |
| 3 Year Change | 71.44% |
| 5 Year Change | -70.00% |
| Change since IPO | -70.90% |
Recent News & Updates
Narrative Update • Feb 26
FRGE: Schwab Merger Vote And Trust Role Will Shape Balanced Outlook
Analysts have adjusted their price target on Forge Global Holdings to $45.00, with this refreshed view reflecting updated assumptions around discount rate, revenue growth, profit margins, and future P/E expectations. What’s in the News Forge Global, Inc.Narrative Update • Feb 10
FRGE: Schwab Merger Vote And Trust Mandate Will Guide Balanced Outlook
Analysts have adjusted their price target on Forge Global Holdings to reflect updated assumptions for the discount rate, a profit margin of 26.76%, and a future P/E of 19.78, keeping their fair value view steady at $45.00. What's in the News Forge Global, Inc.Narrative Update • Jan 26
FRGE: Schwab Cash Offer Will Anchor Deal Focus With Measured Upside Risks
Narrative Update: Forge Global Holdings (FRGE) Analysts have aligned their price targets on Forge Global to US$45 per share, citing the agreed US$45 all cash acquisition by Charles Schwab and the expectation that the stock will now trade mainly on deal terms rather than company fundamentals. Analyst Commentary Recent research around the Schwab acquisition offer has shifted focus away from Forge Global’s standalone outlook and toward how the stock trades relative to the US$45 cash deal price.Narrative Update • Jan 12
FRGE: Schwab Cash Offer Will Drive Deal Focus With Balanced Outcome Risks
Analysts raised their price targets on Forge Global Holdings to $45 per share, matching the agreed all-cash acquisition price from Charles Schwab. They now expect the stock to be influenced mainly by deal terms rather than company fundamentals in the near term.Narrative Update • Dec 20
FRGE: Schwab Cash Offer Will Likely Define Shares With Balanced Deal Risks
Analysts have trimmed their price target on Forge Global Holdings to $45.00 from $50.00, reflecting the stock's shift to trading on the $45 per share cash acquisition agreement with Charles Schwab and related deal dynamics rather than long term fundamentals. Analyst Commentary Street research following the announced acquisition has largely converged on the $45 per share cash offer as the primary valuation anchor, with ratings moving to more neutral stances as the stock trades in line with the deal terms rather than long term growth prospects.Recent updates
Narrative Update • Feb 26
FRGE: Schwab Merger Vote And Trust Role Will Shape Balanced Outlook
Analysts have adjusted their price target on Forge Global Holdings to $45.00, with this refreshed view reflecting updated assumptions around discount rate, revenue growth, profit margins, and future P/E expectations. What’s in the News Forge Global, Inc.Narrative Update • Feb 10
FRGE: Schwab Merger Vote And Trust Mandate Will Guide Balanced Outlook
Analysts have adjusted their price target on Forge Global Holdings to reflect updated assumptions for the discount rate, a profit margin of 26.76%, and a future P/E of 19.78, keeping their fair value view steady at $45.00. What's in the News Forge Global, Inc.Narrative Update • Jan 26
FRGE: Schwab Cash Offer Will Anchor Deal Focus With Measured Upside Risks
Narrative Update: Forge Global Holdings (FRGE) Analysts have aligned their price targets on Forge Global to US$45 per share, citing the agreed US$45 all cash acquisition by Charles Schwab and the expectation that the stock will now trade mainly on deal terms rather than company fundamentals. Analyst Commentary Recent research around the Schwab acquisition offer has shifted focus away from Forge Global’s standalone outlook and toward how the stock trades relative to the US$45 cash deal price.Narrative Update • Jan 12
FRGE: Schwab Cash Offer Will Drive Deal Focus With Balanced Outcome Risks
Analysts raised their price targets on Forge Global Holdings to $45 per share, matching the agreed all-cash acquisition price from Charles Schwab. They now expect the stock to be influenced mainly by deal terms rather than company fundamentals in the near term.Narrative Update • Dec 20
FRGE: Schwab Cash Offer Will Likely Define Shares With Balanced Deal Risks
Analysts have trimmed their price target on Forge Global Holdings to $45.00 from $50.00, reflecting the stock's shift to trading on the $45 per share cash acquisition agreement with Charles Schwab and related deal dynamics rather than long term fundamentals. Analyst Commentary Street research following the announced acquisition has largely converged on the $45 per share cash offer as the primary valuation anchor, with ratings moving to more neutral stances as the stock trades in line with the deal terms rather than long term growth prospects.Narrative Update • Dec 06
FRGE: Schwab Cash Deal At 45 Will Likely Anchor Future Share Performance
Analysts have modestly raised their price target on Forge Global Holdings toward the mid 40 dollar range, citing Schwab's 45 dollar per share cash acquisition agreement and the view that shares will now trade more on deal dynamics than on underlying fundamentals. Analyst Commentary Street research following the Schwab agreement reflects a more balanced stance on Forge Global, with many firms shifting to wait and see positioning even as they lift price targets to align with the 45 dollar per share cash offer.Narrative Update • Nov 22
FRGE: Acquisition Agreement With 75% Premium Will Drive Shares Higher
Analysts have raised their price target for Forge Global Holdings from $42.25 to $50.00, citing improved revenue growth and profit margins, as well as increased acquisition interest, as key drivers of this upward revision. Analyst Commentary Recent analyst actions reflect a balanced perspective on Forge Global Holdings following acquisition interest and improved financial performance.Narrative Update • Nov 07
FRGE: Rising Buyer Interest And Pending Acquisition Will Shape Market Outlook
Analysts have raised Forge Global Holdings' price target from $34.40 to $42.25, citing increased acquisition interest and the strategic value highlighted by ongoing sale discussions. Analyst Commentary Recent analyst updates highlight both optimism and caution surrounding Forge Global Holdings as it navigates acquisition discussions and receives increased buyer interest.Analysis Article • Oct 29
Forge Global Holdings, Inc.'s (NYSE:FRGE) Shares Leap 30% Yet They're Still Not Telling The Full Story
Forge Global Holdings, Inc. ( NYSE:FRGE ) shareholders would be excited to see that the share price has had a great...Seeking Alpha • Sep 25
Forge Global: Favorable View Of Bank Alliance And Profitability Prospects
Summary Forge Global remains a "Buy," with expectations of turning EBITDA-positive in 2026 and benefiting from a recent partnership with Silicon Valley Bank. The exclusive collaboration with SVB expands FRGE's client reach and enhances cross-selling opportunities. FRGE's cost management, European expansion, and the accretive acquisition of Accuidity Capital strengthen its path toward profitability and higher valuation multiples. Read the full article on Seeking AlphaAnalysis Article • Aug 01
Cautious Investors Not Rewarding Forge Global Holdings, Inc.'s (NYSE:FRGE) Performance Completely
It's not a stretch to say that Forge Global Holdings, Inc.'s ( NYSE:FRGE ) price-to-sales (or "P/S") ratio of 3.3x...Seeking Alpha • Apr 28
Forge Global: Hold Amid Uncertainty In The Market
Summary Forge Global's Marketplace Solutions is crucial for growth, but declining Net Take Rate and uncertain Volume pose challenges for profitability. Despite positive Q1 results and a 50% price jump from the Accuidity acquisition, Forge's path to profitability remains unclear. Forge needs to double its revenue to achieve positive Net Income, but current market conditions and trade wars make this unlikely in the short term. With three years of cash runway, investors should monitor Momentum, Volume, and Net Take Rate closely to gauge Forge's future potential. FRGE stock is a Hold for now. Read the full article on Seeking AlphaAnalysis Article • Apr 05
Market Cool On Forge Global Holdings, Inc.'s (NYSE:FRGE) Revenues Pushing Shares 39% Lower
Unfortunately for some shareholders, the Forge Global Holdings, Inc. ( NYSE:FRGE ) share price has dived 39% in the...
New Narrative • Apr 04
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.Analysis Article • 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. ( NYSE:FRGE ) shareholders would be excited to see that the share price has had a great...Analysis Article • Dec 15
Forge Global Holdings, Inc.'s (NYSE:FRGE) Shares Leap 27% Yet They're Still Not Telling The Full Story
Those holding Forge Global Holdings, Inc. ( NYSE:FRGE ) shares would be relieved that the share price has rebounded 27...Analysis Article • Nov 12
Analysts Have Just Cut Their Forge Global Holdings, Inc. (NYSE:FRGE) Revenue Estimates By 12%
Today is shaping up negative for Forge Global Holdings, Inc. ( NYSE:FRGE ) shareholders, with the analysts delivering a...Analysis Article • Aug 10
Analyst Estimates: Here's What Brokers Think Of Forge Global Holdings, Inc. (NYSE:FRGE) After Its Second-Quarter Report
Forge Global Holdings, Inc. ( NYSE:FRGE ) just released its latest second-quarter results and things are looking...Seeking Alpha • Aug 08
Forge Global: Turning Bullish On Results Beat And Positive Outlook (Rating Upgrade)
Summary Forge Global's rating is upgraded to a Buy, and this is justified by its better-than-expected Q2 results and favorable midterm profitability outlook. FRGE's revenue growth accelerated from +24% YoY in Q1 to +33% YoY in Q2, and its actual second quarter top line translated into a +9% beat. The company anticipates that it can realize EBITDA breakeven in fiscal 2026, and this is supported by its recently announced workforce optimization plan. Read the full article on Seeking AlphaAnalysis Article • Mar 29
Analysts Have Lowered Expectations For Forge Global Holdings, Inc. (NYSE:FRGE) After Its Latest Results
Forge Global Holdings, Inc. ( NYSE:FRGE ) shareholders are probably feeling a little disappointed, since its shares...Analysis Article • Mar 27
Forge Global Holdings, Inc. (NYSE:FRGE) Looks Just Right With A 42% Price Jump
Those holding Forge Global Holdings, Inc. ( NYSE:FRGE ) shares would be relieved that the share price has rebounded 42...Analysis Article • Dec 22
Investors Appear Satisfied With Forge Global Holdings, Inc.'s (NYSE:FRGE) Prospects As Shares Rocket 29%
Despite an already strong run, Forge Global Holdings, Inc. ( NYSE:FRGE ) shares have been powering on, with a gain of...Seeking Alpha • Nov 14
Forge Global: No Catalysts In Sight
Summary Forge Global's revenue growth is projected to moderate in the fourth quarter of this year, as the fundraising environment for private businesses is still weak. Acquisitions and the expansion of the data business have the potential to drive top-line growth acceleration for FRGE in the intermediate term, but these aren't near-term catalysts. I retain my Hold investment rating for FRGE, as there is an absence of short-term catalysts for the stock. Read the full article on Seeking AlphaShareholder Returns
| FRGE | US Capital Markets | US Market | |
|---|---|---|---|
| 7D | 0.9% | 1.1% | 1.6% |
| 1Y | 237.4% | 10.7% | 28.5% |
Return vs Industry: FRGE exceeded the US Capital Markets industry which returned 3.7% over the past year.
Return vs Market: FRGE exceeded the US Market which returned 15.5% over the past year.
Price Volatility
| FRGE volatility | |
|---|---|
| FRGE Average Weekly Movement | 0.5% |
| Capital Markets Industry Average Movement | 3.5% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 3.0% |
Stable Share Price: FRGE has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: FRGE's weekly volatility has decreased from 17% to 1% over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2014 | 300 | Kelly Rodriques | www.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
| FRGE fundamental statistics | |
|---|---|
| Market cap | US$619.05m |
| Earnings (TTM) | -US$62.62m |
| Revenue (TTM) | US$92.88m |
6.7x
P/S Ratio-9.9x
P/E RatioIs FRGE overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| FRGE income statement (TTM) | |
|---|---|
| Revenue | US$92.88m |
| Cost of Revenue | US$951.00k |
| Gross Profit | US$91.93m |
| Other Expenses | US$154.55m |
| Earnings | -US$62.62m |
Last Reported Earnings
Sep 30, 2025
Next Earnings Date
n/a
| Earnings per share (EPS) | -4.55 |
| Gross Margin | 98.98% |
| Net Profit Margin | -67.42% |
| Debt/Equity Ratio | 0% |
How did FRGE perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/03/02 12:06 |
| End of Day Share Price | 2026/02/27 00:00 |
| Earnings | 2025/09/30 |
| Annual Earnings | 2024/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
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| Key Developments | 10 years |
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* 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 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Devin Ryan | Citizens JMP Securities, LLC |
| Richard Repetto | Piper Sandler Companies |
| Patrick Moley | Piper Sandler Companies |