Forum Markets, Incorporated (FRMM)
Technology · NCM
Price as at 1 Oct 2026, 11:01 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
Forum Markets, Incorporated trades at $4.72, which is 76% below the $8.29 our fair value estimate puts on the business. On that measure alone it screens as undervalued, though a valuation model is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 35 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
FRMM earnings and analyst estimates
Recommendation mix, 1 published rating
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Forum Markets, Incorporated
Forum Markets, Incorporated, a financial technology company, develops a blockchain-based platform focused on the acquisition, structuring, and tokenization of real-world assets worldwide. The company facilitates decentralized finance (DeFi) transactions and asset digitization across multiple Layer 2 Ethereum networks. It also provides tokenization solutions, DeFi protocol integration, blockchain analytics, traditional-to-digital asset conversion gateways, and other DeFi services. It serves financial institutions, businesses, and organizations. The company was formerly known as ETHZilla Corporation and changed its name to Forum Markets, Incorporated in February 2026. Forum Markets, Incorporated is headquartered in Palm Beach, Florida.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
FRMM passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
3 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Ken Griffin, CITADEL ADVISORS LLC$2.25M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$422.3K · 0.0% of book
- Paul Tudor Jones, TUDOR INVESTMENT CORP ET AL$54.3K · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
FRMM peers
The largest companies in the same industry (Software - Application), then in the same sector.
- SAPGF SAP SE
- CRM Salesforce, Inc.
- UBER Uber Technologies, Inc.
- ADBE Adobe Inc.
- BSP Bending Spoons S.p.A.
- DIDIY DiDi Global Inc.
- QNT Quantinuum Inc.
- GRAB Grab Holdings Limited
Every technology company we cover is on the Technology hub.
Common questions
Is Forum Markets, Incorporated (FRMM) undervalued?
Against our fair value estimate of $8.29, FRMM at $4.72 is 76% below fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own FRMM?
3 of the institutions we track reported a position in FRMM in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
Where does SteadyShares get its FRMM data?
Fundamentals for FRMM come from company filings and exchange data, as listed on NCM; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Oct 2026, 11:01 UTC and is delayed. Our data quality score for this company is 75/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for FRMM, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.