ForgeRock (NYSE:FORG) Issues Q4 2021 Earnings Guidance

ForgeRock (NYSE:FORG) updated its fourth quarter 2021 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $-0.140-$-0.120 for the period, compared to the Thomson Reuters consensus estimate of $-0.170. The company issued revenue guidance of $46.50 million-$47.50 million, compared to the consensus revenue estimate of $43.97 million.ForgeRock also updated its FY 2021 guidance to $-0.960-$-0.940 EPS.

A number of brokerages recently issued reports on FORG. BTIG Research began coverage on shares of ForgeRock in a research report on Monday, October 11th. They set a buy rating and a $40.00 target price on the stock. Truist Securities assumed coverage on shares of ForgeRock in a report on Monday, October 11th. They issued a buy rating and a $38.00 price target on the stock. Morgan Stanley assumed coverage on shares of ForgeRock in a report on Monday, October 11th. They issued an equal weight rating and a $35.00 price target on the stock. Truist assumed coverage on shares of ForgeRock in a report on Monday, October 11th. They issued a buy rating and a $38.00 price target on the stock. Finally, William Blair reissued an outperform rating on shares of ForgeRock in a report on Monday, October 11th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $38.44.

Shares of FORG stock traded up $4.36 on Thursday, reaching $29.14. The company had a trading volume of 975,288 shares, compared to its average volume of 670,802. The stock’s 50-day simple moving average is $31.60. ForgeRock has a 12 month low of $23.60 and a 12 month high of $48.88.

ForgeRock (NYSE:FORG) last posted its earnings results on Wednesday, November 10th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.10. Analysts anticipate that ForgeRock will post -0.93 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley bought a new position in ForgeRock in the third quarter valued at about $34,000. Cubist Systematic Strategies LLC acquired a new position in shares of ForgeRock in the third quarter worth approximately $90,000. UBS Group AG acquired a new position in ForgeRock in the third quarter valued at approximately $378,000. Finally, Royal Bank of Canada acquired a new position in ForgeRock in the third quarter valued at approximately $674,000. Institutional investors own 3.02% of the company’s stock.

About ForgeRock

ForgeRock Inc provides digital identity, delivers modern identity and access management solutions for consumers, employees and things to simply and safely access the connected world. ForgeRock Inc is based in SAN FRANCISCO.

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Earnings History and Estimates for ForgeRock (NYSE:FORG)

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