Forge Global rises after Piper Sandler upgrades  to 'overweight'

Forge Global Holdings

12/05/2025 19:17

** Private securities marketplace Forge Global's FRGE.N shares jump as much as 13.3%; last up 3.7% at $15.04

** Piper Sandler upgrades FRGE to "overweight" from "neutral"; maintains $30 PT, implying a 106.9% upside to stock's last close

** Brokerage says FRGE shares are undervalued at current levels with essentially no debt

** Says FRGE is well positioned to benefit from the increasing focus on private markets given its "industry leading trading and data offering"

** FRGE's recent high-profile data partnerships are indicative of growing demand for private market data - Piper Sandler

** 4 of 6 brokerages rate the stock "buy" or higher, 1 "hold" and 1 "sell"; median PT is $30 - data compiled by LSEG

** As of last close, FRGE stock up 3.8% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))