Forrester Research (NASDAQ:FORR) Releases Q2 2022 Earnings Guidance

Forrester Research (NASDAQ:FORR – Get Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.70-$0.76 for the period, compared to the consensus estimate of $0.74. The company issued revenue guidance of $144.00 million-$148.00 million, compared to the consensus revenue estimate of $144.03 million.Forrester Research also updated its FY 2022 guidance to $2.25-$2.35 EPS.

A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Forrester Research in a research report on Thursday, March 31st. They issued a strong-buy rating for the company. Zacks Investment Research upgraded shares of Forrester Research from a sell rating to a hold rating in a research report on Tuesday, April 19th.

Forrester Research stock traded down $0.20 during mid-day trading on Monday, hitting $50.19. 226 shares of the company traded hands, compared to its average volume of 46,023. Forrester Research has a one year low of $39.64 and a one year high of $60.90. The stock has a market cap of $947.39 million, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 1.76 and a beta of 0.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.82. The stock has a fifty day moving average price of $54.58 and a 200-day moving average price of $55.51.

Forrester Research (NASDAQ:FORR – Get Rating) last announced its earnings results on Thursday, February 10th. The technology company reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. Forrester Research had a net margin of 4.95% and a return on equity of 14.57%. The business had revenue of $133.73 million during the quarter, compared to analyst estimates of $133.95 million. During the same period in the previous year, the business posted $0.13 earnings per share. Sell-side analysts predict that Forrester Research will post 1.79 EPS for the current year.

In other news, Director David Boyce sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $50.53, for a total value of $101,060.00. Following the completion of the sale, the director now directly owns 7,183 shares in the company, valued at approximately $362,956.99. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 40.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Forrester Research by 267.2% in the second quarter. Royal Bank of Canada now owns 973 shares of the technology company’s stock worth $44,000 after buying an additional 708 shares during the period. Lazard Asset Management LLC increased its stake in shares of Forrester Research by 846.0% in the first quarter. Lazard Asset Management LLC now owns 946 shares of the technology company’s stock worth $53,000 after buying an additional 846 shares during the period. Bank of Montreal Can purchased a new position in shares of Forrester Research in the first quarter worth $200,000. Canada Pension Plan Investment Board purchased a new position in shares of Forrester Research in the fourth quarter worth $294,000. Finally, Sei Investments Co. purchased a new position in shares of Forrester Research in the fourth quarter worth $302,000. Hedge funds and other institutional investors own 52.96% of the company’s stock.

About Forrester Research (Get Rating)

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

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