Forrester Research (NASDAQ:FORR) Lowered to “Buy” at StockNews.com

Posted by Defense World Staff on May 9th, 2023

StockNews.com lowered shares of Forrester Research (NASDAQ:FORR – Get Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Monday morning.

Separately, Barrington Research cut their price target on shares of Forrester Research from $48.00 to $39.00 and set an outperform rating for the company in a report on Monday, February 13th.

Forrester Research Stock Performance

FORR opened at $25.58 on Monday. The firm has a market capitalization of $490.91 million, a PE ratio of 36.54, a PEG ratio of 1.52 and a beta of 0.94. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. Forrester Research has a twelve month low of $22.62 and a twelve month high of $53.60. The firm’s 50-day moving average price is $32.05 and its 200 day moving average price is $34.57.

Forrester Research (NASDAQ:FORR – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The technology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. The company had revenue of $136.89 million for the quarter, compared to analyst estimates of $138.23 million. Forrester Research had a return on equity of 15.14% and a net margin of 2.58%. As a group, sell-side analysts expect that Forrester Research will post 1.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Galford sold 7,500 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $33.14, for a total value of $248,550.00. Following the sale, the director now directly owns 29,353 shares in the company, valued at $972,758.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Steven P. Peltzman sold 2,206 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $33.95, for a total transaction of $74,893.70. Following the completion of the sale, the insider now owns 15,091 shares in the company, valued at approximately $512,339.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Galford sold 7,500 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $33.14, for a total transaction of $248,550.00. Following the completion of the transaction, the director now directly owns 29,353 shares in the company, valued at $972,758.42. The disclosure for this sale can be found here. Insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC lifted its holdings in shares of Forrester Research by 27.5% in the 3rd quarter. Lido Advisors LLC now owns 9,310 shares of the technology company’s stock valued at $335,000 after purchasing an additional 2,008 shares during the last quarter. Oberweis Asset Management Inc. boosted its holdings in shares of Forrester Research by 4.3% in the third quarter. Oberweis Asset Management Inc. now owns 58,000 shares of the technology company’s stock valued at $2,089,000 after acquiring an additional 2,400 shares during the period. Cambiar Investors LLC purchased a new position in shares of Forrester Research during the third quarter worth approximately $1,454,000. Summit Global Investments increased its holdings in shares of Forrester Research by 3.1% in the 3rd quarter. Summit Global Investments now owns 13,500 shares of the technology company’s stock valued at $486,000 after acquiring an additional 400 shares during the period. Finally, Dupont Capital Management Corp purchased a new stake in Forrester Research in the 4th quarter valued at $458,000. 54.81% of the stock is owned by hedge funds and other institutional investors.

About Forrester Research

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Forrester Research, Inc engages in the provision of advisory services. It operates through the following business segments: Research, Consulting, and Events. The Research segment includes the revenues of the research, connect, and analytics products. The Consulting segment consists of project consulting organization.