Shares of Forrester Research, Inc. (NASDAQ:FORR) have earned an average recommendation of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $57.00.
FORR has been the subject of a number of analyst reports. ValuEngine raised Forrester Research from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Zacks Investment Research lowered shares of Forrester Research from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Barrington Research restated a “hold” rating on shares of Forrester Research in a research report on Monday, October 21st. BidaskClub upgraded shares of Forrester Research from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Sidoti started coverage on shares of Forrester Research in a report on Wednesday, August 28th. They set a “buy” rating and a $55.00 price target for the company.
NASDAQ:FORR traded up $0.11 during trading hours on Friday, reaching $39.72. 1,228 shares of the company were exchanged, compared to its average volume of 51,232. The business has a 50 day moving average of $36.48 and a 200 day moving average of $39.95. Forrester Research has a 1-year low of $30.76 and a 1-year high of $51.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $743.58 million, a P/E ratio of 47.30 and a beta of 0.78.
Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The firm had revenue of $108.60 million during the quarter, compared to analysts’ expectations of $107.21 million. Forrester Research had a negative return on equity of 6.13% and a negative net margin of 2.08%. As a group, equities research analysts anticipate that Forrester Research will post -0.7 earnings per share for the current fiscal year.
In other news, Director Gretchen Teichgraeber sold 925 shares of Forrester Research stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $39.34, for a total value of $36,389.50. Following the transaction, the director now owns 17,601 shares in the company, valued at approximately $692,423.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 43.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. State of Tennessee Treasury Department raised its holdings in Forrester Research by 66.2% in the 3rd quarter. State of Tennessee Treasury Department now owns 18,925 shares of the technology company’s stock valued at $609,000 after buying an additional 7,535 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Forrester Research by 8.1% in the second quarter. Wells Fargo & Company MN now owns 36,027 shares of the technology company’s stock worth $1,694,000 after purchasing an additional 2,693 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Forrester Research by 35.9% in the second quarter. JPMorgan Chase & Co. now owns 36,464 shares of the technology company’s stock worth $1,723,000 after purchasing an additional 9,630 shares during the last quarter. Dupont Capital Management Corp increased its holdings in Forrester Research by 369.9% in the third quarter. Dupont Capital Management Corp now owns 40,971 shares of the technology company’s stock valued at $1,317,000 after purchasing an additional 32,251 shares during the period. Finally, Swiss National Bank increased its holdings in Forrester Research by 11.5% in the second quarter. Swiss National Bank now owns 20,350 shares of the technology company’s stock valued at $957,000 after purchasing an additional 2,100 shares during the period. 52.83% of the stock is owned by hedge funds and other institutional investors.
About Forrester Research
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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