UBS analyst Alex Kramm downgraded the rating on Forge Global Holdings to a Hold yesterday, setting a price target of $45.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Alex Kramm has given his Hold rating due to a combination of factors surrounding the recent acquisition agreement between Forge Global Holdings and Charles Schwab Corporation. The deal, which offers a significant premium to Forge’s previous stock price, has led to an adjustment in the price target to align with the acquisition terms. Given the definitive nature of the agreement and the expected completion timeline, the stock is anticipated to trade in line with the deal price until the transaction closes.
Despite the acquisition, Forge Global Holdings remains well-positioned in the private market trading infrastructure sector, benefiting from increasing demand for private company shares and data solutions. The company’s strong execution on new initiatives and cost management strategies are paving the way to profitability. However, the acquisition has introduced a level of certainty in the stock’s valuation, leading to the Hold rating as the market awaits the deal’s finalization.
In another report released on November 7, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $45.00 price target.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FRGE in relation to earlier this year.