Forrester Research (NASDAQ:FORR) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.
Separately, Zacks Investment Research cut shares of Forrester Research from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th.
Shares of Forrester Research stock opened at $44.75 on Friday. Forrester Research has a 12-month low of $36.95 and a 12-month high of $47.75. The firm has a market capitalization of $820.28, a PE ratio of 53.92, a P/E/G ratio of 3.57 and a beta of 0.36.
Forrester Research (NASDAQ:FORR) last issued its earnings results on Wednesday, February 7th. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Forrester Research had a net margin of 4.48% and a return on equity of 11.28%. The company had revenue of $90.38 million during the quarter, compared to analyst estimates of $84.85 million. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. sell-side analysts expect that Forrester Research will post 1.06 earnings per share for the current year.
In related news, Director George Hornig sold 646 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $40.70, for a total transaction of $26,292.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gretchen Teichgraeber sold 1,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $42.08, for a total transaction of $42,080.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,021 shares of company stock valued at $928,026. 43.50% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of FORR. Spark Investment Management LLC acquired a new stake in Forrester Research during the 4th quarter worth $203,000. MetLife Investment Advisors LLC acquired a new stake in Forrester Research during the 4th quarter worth $256,000. Acadian Asset Management LLC boosted its stake in Forrester Research by 90.5% during the 4th quarter. Acadian Asset Management LLC now owns 6,815 shares of the technology company’s stock worth $301,000 after purchasing an additional 3,238 shares during the period. First Quadrant L P CA boosted its stake in Forrester Research by 75.9% during the 4th quarter. First Quadrant L P CA now owns 9,549 shares of the technology company’s stock worth $422,000 after purchasing an additional 4,120 shares during the period. Finally, Cigna Investments Inc. New boosted its stake in Forrester Research by 70.5% during the 4th quarter. Cigna Investments Inc. New now owns 9,963 shares of the technology company’s stock worth $440,000 after purchasing an additional 4,120 shares during the period. Hedge funds and other institutional investors own 59.80% of the company’s stock.
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About Forrester Research
Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.
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