Shares of ForgeRock, Inc. (NYSE:FORG – Get Rating) have been given a consensus rating of “Buy” by the eleven analysts who currently cover the stock, Marketbeat reports. Three investment analysts gave the stock a hold rating and four gave the company a buy rating. The 1-year average price target among brokerages that have issued ratings on the stock in the past year is $30.50.

Several stock analysts have weighed in on FORG shares. BTIG Research cut its price target on ForgeRock from $40.00 to $24.00 in a Monday, February 14 report. Zacks Investment Research upgraded ForgeRock’s shares from a “buy” rating to a “hold” rating in a Wednesday, March 2 research report. Morgan Stanley lowered its price target on ForgeRock from $27.00 to $22.00 and set an “equal weight” rating for the company in a Wednesday, March 2 research report. Deutsche Bank Aktiengesellschaft raised its price target on ForgeRock from $14.00 to $16.00 in a Wednesday, March 2 research report. Finally, KeyCorp began covering ForgeRock in a research note on Monday, April 4. They issued a “sector weight” rating for the company.

A number of hedge funds have recently increased or reduced their holdings in FORG. Morgan Stanley bought a new position in ForgeRock in Q3 worth around $34,000. Cutler Group LP purchased a new equity stake in ForgeRock in the first quarter worth approximately $40,000. Advisor Group Holdings Inc. bought a new position in ForgeRock in the third quarter worth about $49,000. Bogart Wealth LLC bought a new position in ForgeRock during Q1 worth $77,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in ForgeRock during Q3 for $90,000. Institutional investors and hedge funds hold 27.02% of the company’s shares.

Shares of ForgeRock opened at $22.01 on Friday. The company has a debt ratio of 0.12, a quick ratio of 4.60 and a current ratio of 4.60. ForgeRock has a 52 week low of $11.94 and a 52 week high of $48.88. The stock’s 50-day simple moving average is $19.13 and its 200-day simple moving average is $22.19.

ForgeRock (NYSE:FORG – Get Rating) last released its quarterly results on Tuesday, March 1. The company reported ($0.15) EPS for the quarter, beating the Zacks consensus estimate of ($0.18) by $0.03. The company posted revenue of $47.90 million in the quarter, compared to $47.10 million expected by analysts. Research analysts predict ForgeRock to post -0.37 EPS for the current fiscal year.

About ForgeRock (Get an evaluation)

ForgeRock, Inc, together with its subsidiaries, operates a digital identity platform to secure, manage and govern the identities of customers, employees, partners, application programming interfaces (APIs), microservices, devices and the Internet of Things around the world. It offers identity management products to automate progressive onboarding/registration and profiling, identity and relationship lifecycle management, identity provisioning and synchronization, user self-service, personalization, delegation and management of privacy and consent.

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