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Mizuho Securities Sticks to Its Buy Rating for ForgeRock Inc (FORG)

In a report issued on April 11, Gregg Moskowitz from Mizuho Securities maintained a Buy rating on ForgeRock Inc (FORGResearch Report), with a price target of $32.00. The company’s shares closed last Thursday at $22.27.

According to TipRanks.com, Moskowitz is a top 100 analyst with an average return of 22.4% and a 67.5% success rate. Moskowitz covers the Technology sector, focusing on stocks such as Ping Identity Holding, CrowdStrike Holdings, and Palo Alto Networks.

ForgeRock Inc has an analyst consensus of Moderate Buy, with a price target consensus of $28.00.

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Based on ForgeRock Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $47.9 million and GAAP net loss of $12.36 million. In comparison, last year the company earned revenue of $32.12 million and had a GAAP net loss of $7.81 million.

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ForgeRock Inc is a next-generation cloud identity company. Its products include Identity Management, Access Management, Identity Governance, AI-powered Autonomous Identity. Its revenue includes recurring revenue from term licenses, SaaS, and maintenance and support which it refers to as subscription revenue.

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