Forge(FRGE) ZACKS·2024-08-08 00:05Financial Performance - Forge Global Holdings, Inc. reported a quarterly loss of $0.08 per share, better than the Zacks Consensus Estimate of a loss of $0.12, and an improvement from a loss of $0.12 per share a year ago, representing an earnings surprise of 33.33% [1] - The company posted revenues of $22.28 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 10.12%, compared to year-ago revenues of $16.72 million [2] - Over the last four quarters, Forge Global has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Forge Global shares have declined approximately 64.4% since the beginning of the year, contrasting with the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.11 on $22 million in revenues, and -$0.42 on $85.75 million in revenues for the current fiscal year [7] Industry Outlook - The Zacks Industry Rank for Financial - Miscellaneous Services is currently in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can materially impact stock performance [5][8]