Forum Markets, Incorporated (FRMM) Fair Value 2026

FRMM · Software - Application ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

3.4 /10

32 fundamental signals · 2 models active

Value Trap Risk

WARN (56/100)

Quick Summary — As of 2026-10-07, Forum Markets, Incorporated (FRMM) trades at $4.85, versus a $5.47 median fair value across its 2 active models — 12.7% above the current price. QOC: 3.4/10. Value Trap Risk: 56/100 (WARN). 2/13 models active.

Key Facts

Ticker
FRMM
Price
$4.85
Quality Score
3.4/10
Value Trap Risk
56/100
Models Active
2/13
Last Updated
Strength: Regime Cross-Sectional suggests +17.4% upside with 45% confidence
Risk: Value Trap score of 56 suggests caution despite apparent undervaluation

Is Forum Markets, Incorporated (FRMM) Undervalued or Overvalued in 2026?

According to CirclFi’s 2-model valuation engine, Forum Markets, Incorporated (FRMM) appears undervalued as of : the median of 2 independent fair value estimates is $5.47, 12.7% above the current price of $4.85. Estimates range from $5.24 to $5.70. FRMM scores 3.4/10 on fundamental quality and 56/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -20.1% versus its own 13-model consensus, across 3,777 rated companies as of 2026-10-07. FRMM’s +12.7% gap is narrower than that market norm, and the Software - Application sector median is -20.8%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy Forum Markets, Incorporated Stock in 2026? →

What Fair Value Does Each Model Give FRMM?

2 Intrinsic Value Models vs. Current Price ($4.85)

Core Models (Unlocked)
Model Fair Value Upside
Relative · Medium Conviction
 $5.70 +17.4%
Relative · Low Conviction
 $5.24 +8.0%

All Models Active

All 2 models are displayed above.

What Is Forum Markets, Incorporated (FRMM) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, the weight of evidence tilts decidedly bullish for Forum Markets, Incorporated. Trading at $4.85 against an estimated intrinsic value of $5.47, 2 of 2 active models flag meaningful upside of +12.7% at the median.

What Do the Models Say About FRMM?

2 of 13 models are currently active for FRMM. All 2 active models suggest the stock trades below fair value. Taken together, their median fair value for FRMM is $5.47 — the figure CirclFi publishes as this stock's fair value. See which stocks rank higher →

How Does FRMM Rank in Software - Application?

Among 261 Software - Application stocks, FRMM ranks #240 by Quality of Company score. CirclFi's QOC score of 3.4/10 evaluates 32 fundamental signals. A score of 3.4 signals below-average fundamentals.

See all Most Undervalued Software - Application Stocks →

Forum Markets, Incorporated's positioning within the Software - Application segment means that R&D intensity plays an outsized role in fundamental analysis. The sector's unique characteristics — including platform stickiness — shape both the opportunity set and risk profile.

Is FRMM a Value Trap?

CirclFi's Value Trap algorithm assigns FRMM a score of 56/100 (WARN). This is a warning signal. Additional research into recent 10-Q filings is recommended. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

2 of 13 models are active for Forum Markets, Incorporated. Limited activation may indicate insufficient history. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi Quality of Company (QOC) framework, Forum Markets, Incorporated earns a quality score of 3.4/10. This concerning rating reflects the company's standing across 32 fundamental signals spanning profitability, growth consistency, balance sheet strength, and capital allocation efficiency. Our Value Trap detector shows moderate caution signals worth monitoring.

Models cluster within a tight range (+9.5% spread), increasing conviction. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every FRMM valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across FRMM's 2 active models, average confidence is 26%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy Forum Markets, Incorporated Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Software - Application Stocks Should You Also Analyze?

11 related Software - Application stocks with 13-model coverage

SCDAB-Scada, Inc.QOC 3.4NGCGNew Generation Consumer Group, Inc.QOC 3.3CUENCuentas Inc.QOC 3.4SECZSecuritize Corp.QOC 3.3AUUDAuddia Inc.QOC 3.7BMPABMP AI Technologies, Inc.QOC 3.2HUBSHubSpot, Inc.QOC 8.7DHXDHI Group, Inc.QOC 7.1CYNCyngn Inc.QOC 5.8ADSKAutodesk, Inc.QOC 9.9PTCPTC Inc.QOC 9.8

Read investment analysis: SCDA · NGCG · CUEN · SECZ · AUUD · BMPA · HUBS · DHX · CYN · ADSK · PTC

Which Other Stocks Have a Similar Quality Score to FRMM?

7 companies across all industries closest to FRMM’s Quality of Company score of 3.4/10.

SPMESound Point Meridian Capital, Inc.QOC 3.4CINGCingulate Inc.QOC 3.4SPMASound Point Meridian Capital, Inc.QOC 3.4BSFCBlue Star Foods Corp.QOC 3.4AIAIAIAI Holdings CorporationQOC 3.4GPLBGreen Planet Bioengineering Co., Ltd.QOC 3.4NVDANVIDIA CorporationQOC 10.0

Read investment analysis: SPME · CING · SPMA · BSFC · AIAI · GPLB · NVDA

Where Does FRMM Sit in CirclFi's Software - Application Rankings?

FRMM is ranked against every other Software - Application stock CirclFi covers in each of these screens.

See all Software - Application stocks ranked →

What Else Do Investors Ask About Forum Markets, Incorporated’s Valuation?

What is Forum Markets, Incorporated's intrinsic value in 2026?

CirclFi puts Forum Markets, Incorporated (FRMM)'s intrinsic value at $5.47 — the median of 2 independent model estimates as of 2026-10-07, ranging from $5.24 to $5.70. The Quality of Company score is 3.4/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is FRMM overvalued or undervalued right now?

At $4.85, 2 of 2 active models suggest FRMM may be undervalued, while 0 indicate potential overvaluation. The median of all 2 fair value estimates is $5.47, 12.7% above the current price of $4.85 — a consensus view that FRMM is undervalued. The assessment depends on which methodology best fits Forum Markets, Incorporated's business model in Software - Application.

What does a Quality of Company score of 3.4 mean for FRMM?

Forum Markets, Incorporated's QOC of 3.4/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores below 5 flag potential fundamental weaknesses requiring careful analysis.

How many valuation models does CirclFi run on FRMM?

CirclFi analyzes FRMM with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 2 of 13 are active for this stock. Read the full methodology →

Is FRMM a value trap in 2026?

Forum Markets, Incorporated's Value Trap score is 56/100 (WARN). This elevated score suggests the stock may look undervalued but faces deteriorating fundamentals — declining margins, rising debt, or shrinking revenue could make the apparent discount deceptive. Browse our ranked stock lists to compare value-trap scores across industries. Browse stocks by value-trap risk →

Cite this analysis — “According to CirclFi’s 2-model valuation engine, Forum Markets, Incorporated (FRMM) has a median fair value of $5.47 — 12.7% above the current price of $4.85 — as of 2026-10-07.” Source: circlfi.com/stock/FRMM/ · Methodology
Primary sources for this FRMM valuation
  • Financial statements: Forum Markets, Incorporated 10-K and 10-Q filings on SEC EDGAR (CIK 0001690080) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for FRMM as of ; valuations recomputed .