Several other brokerages have also weighed in on FORR. ValuEngine raised shares of Forrester Research from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Zacks Investment Research lowered shares of Forrester Research from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Barrington Research reissued a “hold” rating on shares of Forrester Research in a research report on Monday, October 21st. Sidoti initiated coverage on shares of Forrester Research in a research report on Wednesday, August 28th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, Maxim Group restated a “buy” rating and issued a $59.00 price objective (down previously from $62.00) on shares of Forrester Research in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Forrester Research currently has an average rating of “Buy” and a consensus price target of $51.00.
Shares of FORR opened at $36.73 on Friday. The company has a 50-day moving average of $34.11 and a two-hundred day moving average of $41.05. The company has a current ratio of 0.61, a quick ratio of 0.64 and a debt-to-equity ratio of 1.27. Forrester Research has a one year low of $30.76 and a one year high of $51.75.
Forrester Research (NASDAQ:FORR) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $108.60 million during the quarter, compared to analyst estimates of $107.21 million. Forrester Research had a negative net margin of 2.08% and a negative return on equity of 6.13%. Equities analysts forecast that Forrester Research will post -0.7 EPS for the current year.
In other Forrester Research news, Director Neil Bradford purchased 3,040 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $32.63 per share, for a total transaction of $99,195.20. Following the completion of the purchase, the director now directly owns 8,809 shares of the company’s stock, valued at $287,437.67. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 43.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Forrester Research by 2.7% in the second quarter. BlackRock Inc. now owns 1,638,798 shares of the technology company’s stock valued at $77,072,000 after buying an additional 42,795 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Forrester Research by 1.1% in the second quarter. Vanguard Group Inc. now owns 1,117,085 shares of the technology company’s stock valued at $52,536,000 after buying an additional 11,979 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Forrester Research by 5.3% in the second quarter. Renaissance Technologies LLC now owns 839,018 shares of the technology company’s stock valued at $39,459,000 after buying an additional 42,418 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Forrester Research by 0.9% in the second quarter. Northern Trust Corp now owns 159,413 shares of the technology company’s stock valued at $7,497,000 after buying an additional 1,451 shares during the last quarter. Finally, GW&K Investment Management LLC raised its holdings in Forrester Research by 41.9% during the 3rd quarter. GW&K Investment Management LLC now owns 154,898 shares of the technology company’s stock worth $4,978,000 after purchasing an additional 45,724 shares during the last quarter. 53.86% of the stock is owned by institutional investors.
Forrester Research Company Profile
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
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