Forrester Research (NASDAQ:FORR) Updates FY 2024 Earnings Guidance

Forrester Research (NASDAQ:FORR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.500-1.700 for the period, compared to the consensus earnings per share estimate of 1.580. The company issued revenue guidance of $430.0 million-$450.0 million, compared to the consensus revenue estimate of $437.8 million.

Forrester Research Trading Down 3.7 %

FORR stock traded down $0.70 during midday trading on Tuesday, reaching $18.19. The company’s stock had a trading volume of 159,374 shares, compared to its average volume of 146,143. The business’s 50-day simple moving average is $19.99 and its 200-day simple moving average is $23.37. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.15. Forrester Research has a 52 week low of $18.10 and a 52 week high of $32.79. The stock has a market cap of $352.70 million, a PE ratio of 111.12, a price-to-earnings-growth ratio of 1.34 and a beta of 0.91.

Forrester Research (NASDAQ:FORR) last released its earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The company had revenue of $118.09 million during the quarter, compared to analyst estimates of $116.43 million. Forrester Research had a net margin of 0.63% and a return on equity of 10.77%. As a group, sell-side analysts expect that Forrester Research will post 1.04 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com cut Forrester Research from a buy rating to a hold rating in a report on Friday, April 19th.

Insider Activity

In other news, Director Robert Galford sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $20.73, for a total value of $269,490.00. Following the completion of the sale, the director now directly owns 20,489 shares of the company’s stock, valued at $424,736.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 39.20% of the stock is owned by insiders.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.