Are You Looking To Buy ForgeRock Inc. (FORG)? First, Read This


ForgeRock Inc. (NYSE:FORG) finished Friday with an addition of $0.1 to close at $22.77, an upside of 0.44 percent. An average of 888,940 shares of common stock have been traded in the last five days. There was a fall of -$0.15 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 1,779,605 shares traded, while the 50-day average volume stands at 1,834,672.

FORG stock has increased by 4.69% in the last month. The company shares reached their 1-month lowest point of $21.28 on 12/07/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $11.94 and a high of $28.33 in 52 weeks. It has reached a new high 1 time so far this year and lost -14.69% or -$3.92 in price. In spite of this, the price is down -19.63% from the 52-week high.

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Insider Transactions

FORG stock investors should be aware that ForgeRock Inc. (FORG) stock had its last reported insider trading activity 15 days ago on Dec 16. In this transaction, the insider spent $167,561. Chief Revenue Officer, Angstadt Peter K Jr., disposed of 75,000 shares at a price of $21.47 on Dec 08. The insider now owns more than $1,610,482 worth of shares. Prior to that, Chief Revenue Officer Angstadt Peter K Jr. went on to Sale 75,000 shares at $21.36 each on Dec 07. An amount of $1,602,375 was transacted.

Valuation Metrics

ForgeRock Inc. (FORG) has a trailing price-to-sales (P/S) ratio at 9.71, the price-to-book (PB) ratio at 6.22.

Financial Health

The quick ratio of ForgeRock Inc. for the three months ended September 29 was 4.60, and the current ratio was 4.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.13 and a total debt to equity ratio of 0.00 for the quarter ending September 29. Its gross profit as reported stood at $144.0 million compared to revenue of $176.93 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, ForgeRock Inc.’s return on assets was -13.20%.

Earnings Surprise

For the three-month period that ended September 29, ForgeRock Inc. had $39.58 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$10.94 million in the quarter, while revenues of -$22.37 million were shrunk -39.58%. The analyst consensus anticipated ForgeRock Inc.’s latest quarter earnings to come in at -$0.15 per share, but it turned out to be -$0.01, a 93.30% surprise. For the quarter, EBITDA amounted to -$8.63 million. Shareholders own equity worth $85.36 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at ForgeRock Inc. (FORG) price momentum. RSI 9-day as of the close on 30 December was 50.13%, suggesting the stock is Neutral, with historical volatility in this time frame at 10.77%.

As of today, FORG’s price is $22.69 -0.65% or -$0.15 from its 5-day moving average. FORG is currently trading +4.88% higher than its 20-day SMA and -0.09% lower than its 100-day SMA. However, the stock’s current price level is +1.02% above the SMA50 and +26.57% above the SMA200.

The stochastic %K and %D were 33.12% and 43.31%, respectively, and the average true range (ATR) was 0.32. With the 14-day stochastic at 27.61% and the average true range at 0.33, the RSI (14) stands at 54.21%. The stock has reached -0.22 on the 9-day MACD Oscillator while the 14-day reading was at -0.45.

Analyst Ratings

Canaccord Genuity launched coverage on ForgeRock Inc. (NYSE: FORG) in its analyst report released on September 30, 2022. The firm assigned the stock a Buy rating.


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