Forgerock Intrinsic Stock Value – FORGEROCK Reports Record-Breaking Financial Results for Q2 FY2023
August 25, 2023
🌥️Earnings Overview
On June 30, 2023, FORGEROCK ($NYSE:FORG) released their financial results for the second quarter of FY2023, showing total revenue of USD 58.3 million, a 22.2% increase from the same quarter of the previous year. However, net income was reported at USD -28.8 million, a decrease from -22.4 million in the same period of the prior year.
Price History
On Monday, FORGEROCK reported record-breaking financial results for Q2 FY2023, driving its stock price to historic highs. At the close of the trading day, FORGEROCK’s stock opened at $20.6 and closed at $20.9, up by 1.4% from its previous closing price of 20.6. This marks a strong quarter for the company as it continues to expand its services and presence in the market. The record-breaking Q2 results can be attributed to the company’s focus on expanding its services and customer base. The company has also seen an increase in its customer retention rate due to their focus on providing quality services and products.
The Q2 results have also been boosted by new partnerships with its customers, helping them to maximize their return on investment. These strong results demonstrate FORGEROCK’s commitment to providing customers with innovative solutions and top-notch services. With its focus on customer satisfaction and continued growth, the company is well-positioned to continue its success in the coming quarters. Investors are confident that FORGEROCK’s stock will continue to rise in the future, making it an attractive investment for those looking to capitalize on a well-performing company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Forgerock. More…
| Total Revenues | Net Income | Net Margin |
| 243.17 | -81.65 | -29.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Forgerock. More…
| Operations | Investing | Financing |
| -39.48 | 217.64 | 11.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Forgerock. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 458.72 | 169.81 | 3.26 |
Key Ratios Snapshot
Some of the financial key ratios for Forgerock are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.7% | – | -31.4% |
| FCF Margin | ROE | ROA |
| -16.6% | -16.1% | -10.4% |
Analysis – Forgerock Intrinsic Stock Value
GoodWhale has conducted an analysis of FORGEROCK‘s wellbeing, and our findings are very positive. Our proprietary Valuation Line has determined that the fair value of FORGEROCK share is around $23.7. However, the stock is currently being traded at $20.9 on the market, which represents a 11.7% undervaluation of the company. This presents an excellent opportunity for investors to purchase these shares at a bargain price. More…
Peers
The company was founded in 2010 and is headquartered in San Francisco, California. ForgeRock has over 500 customers in more than 80 countries. ForgeRock’s competitors include Subex Ltd, SolarWinds Corp, and CrowdStrike Holdings Inc.
– Subex Ltd ($BSE:532348)
Subex Ltd is a leading global provider of digital trust solutions. The company has a market cap of 16.34B as of 2022 and a Return on Equity of 1.75%. Subex Ltd enables digital trust by helping organizations achieve business objectives in a digital world. The company provides a suite of products and services that enable organizations to build, operate and secure their digital businesses.
– SolarWinds Corp ($NYSE:SWI)
As of 2022, SolarWinds Corp has a market cap of 1.37B and a Return on Equity of -36.89%. SolarWinds Corp is a provider of enterprise network, systems, and application management software. The company’s products are designed to manage large, complex networks and monitor critical applications and infrastructure components. SolarWinds’ products are used by IT professionals in a variety of industries, including government, healthcare, education, and Fortune 500 companies.
– CrowdStrike Holdings Inc ($NASDAQ:CRWD)
CrowdStrike Holdings Inc is a cybersecurity technology company. Its market cap as of 2022 is 31.69B, and its ROE is -6.41%. The company provides a cloud platform that helps organizations prevent, detect, and respond to cyber threats.
Summary
Investors should be cautiously optimistic about ForgeRock’s financial results for the second quarter of FY2023. Despite a 22.2% year-over-year increase in total revenue, net income was reported at -28.8 million, an increase from -22.4 million in the same period of the previous year. This could indicate that ForgeRock’s revenue growth is not translating into profitability yet, and further analysis is needed to assess the long-term outlook of this stock. Investors should look to ForgeRock’s strategies for cost reduction and revenue enhancement for clues regarding the company’s future prospects.
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