JPMorgan Starts Forge Global Holdings Inc (FRGE) at Neutral

JPMorgan analyst Kenneth Worthington initiates coverage on Forge Global Holdings Inc (NYSE: FRGE) with a Neutral rating.

The analyst comments "We are initiating coverage on Forge Global (FRGE) with a Neutral rating. While we love the business and see the company having ample cash to weather losses for the next 2+ years, we see a particularly challenging environment for Forge without the catalysts for it to outperform near term. Forge is a leading provider of private marketplace technology and infrastructure solutions that enable accredited participants to buy and sell private company shares. Forge is on a journey to digitize a complex and opaque private market transaction process through its tech-enabled platform. We believe Forge stock today has been de-risked after falling from $35+ to $1-2 in 2022. That said, we launch with a Neutral rating given challenging macro and market conditions and do not see a catalyst in the near term for the stock to outperform."

For an analyst ratings summary and ratings history on Forge Global Holdings Inc click here. For more ratings news on Forge Global Holdings Inc click here.

Shares of Forge Global Holdings Inc closed at $1.72 yesterday.

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