Forrester Research (NASDAQ:FORR) Issues FY 2022 Earnings Guidance

Forrester Research (NASDAQ:FORRGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $2.25-$2.35 for the period, compared to the consensus EPS estimate of $2.30. The company issued revenue guidance of $550.00 million-$560.00 million, compared to the consensus revenue estimate of $554.48 million.Forrester Research also updated its Q2 2022 guidance to $0.70-$0.76 EPS.

Several analysts have weighed in on the company. StockNews.com assumed coverage on Forrester Research in a report on Thursday, March 31st. They issued a strong-buy rating on the stock. Zacks Investment Research raised Forrester Research from a hold rating to a buy rating and set a $56.00 target price on the stock in a report on Monday, May 16th.

Forrester Research stock traded up $0.02 during trading hours on Monday, hitting $49.14. The stock had a trading volume of 22 shares, compared to its average volume of 46,111. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $927.57 million, a price-to-earnings ratio of 38.08, a PEG ratio of 1.70 and a beta of 0.98. Forrester Research has a 1-year low of $39.64 and a 1-year high of $60.90. The stock’s fifty day moving average is $54.42 and its two-hundred day moving average is $55.35.

Forrester Research (NASDAQ:FORRGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. Forrester Research had a return on equity of 14.57% and a net margin of 4.95%. The business had revenue of $124.97 million for the quarter, compared to analyst estimates of $121.62 million. As a group, sell-side analysts anticipate that Forrester Research will post 1.8 EPS for the current year.

In related news, Director David Boyce sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $50.53, for a total transaction of $101,060.00. Following 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 accessible through this link. Company insiders own 40.60% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Forrester Research by 3.8% during the 4th quarter. BlackRock Inc. now owns 1,956,809 shares of the technology company’s stock valued at $114,924,000 after purchasing an additional 71,028 shares in the last quarter. Vanguard Group Inc. grew its stake in Forrester Research by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 1,289,590 shares of the technology company’s stock valued at $72,758,000 after purchasing an additional 30,629 shares in the last quarter. State Street Corp grew its stake in Forrester Research by 2.0% during the 1st quarter. State Street Corp now owns 368,122 shares of the technology company’s stock valued at $20,769,000 after purchasing an additional 7,270 shares in the last quarter. Invesco Ltd. grew its stake in Forrester Research by 323.4% during the 4th quarter. Invesco Ltd. now owns 186,687 shares of the technology company’s stock valued at $10,964,000 after purchasing an additional 142,594 shares in the last quarter. Finally, Norges Bank acquired a new stake in Forrester Research during the 4th quarter valued at approximately $7,205,000. Institutional investors and hedge funds 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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