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Forge Global (FRGE) Moves 11.6% Higher: Will This Strength Last?
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Forge Global Holdings, Inc. (FRGE - Free Report) shares ended the last trading session 11.6% higher at $18.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.7% gain over the past four weeks.
FRGE recorded a strong price rise following investor optimism, driven by media speculation regarding a potential sale of the company. Later, the company confirmed that it had received unsolicited interest from multiple parties and is currently in talks, while clarifying that no deal has been finalized yet.
This company is expected to post quarterly loss of $1.03 per share in its upcoming report, which represents a year-over-year change of +31.3%. Revenues are expected to be $25.5 million, up 32.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Forge Global, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FRGE going forward to see if this recent jump can turn into more strength down the road.
Forge Global is part of the Zacks Financial - Miscellaneous Services industry. MidCap Financial Investment (MFIC - Free Report) , another stock in the same industry, closed the last trading session 1.6% higher at $12.4. MFIC has returned 1.2% in the past month.
For MidCap Financial, the consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.38. This represents a change of -13.6% from what the company reported a year ago. MidCap Financial currently has a Zacks Rank of #3 (Hold).
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Forge Global (FRGE) Moves 11.6% Higher: Will This Strength Last?
Forge Global Holdings, Inc. (FRGE - Free Report) shares ended the last trading session 11.6% higher at $18.55. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.7% gain over the past four weeks.
FRGE recorded a strong price rise following investor optimism, driven by media speculation regarding a potential sale of the company. Later, the company confirmed that it had received unsolicited interest from multiple parties and is currently in talks, while clarifying that no deal has been finalized yet.
This company is expected to post quarterly loss of $1.03 per share in its upcoming report, which represents a year-over-year change of +31.3%. Revenues are expected to be $25.5 million, up 32.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Forge Global, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FRGE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Forge Global is part of the Zacks Financial - Miscellaneous Services industry. MidCap Financial Investment (MFIC - Free Report) , another stock in the same industry, closed the last trading session 1.6% higher at $12.4. MFIC has returned 1.2% in the past month.
For MidCap Financial, the consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.38. This represents a change of -13.6% from what the company reported a year ago. MidCap Financial currently has a Zacks Rank of #3 (Hold).