Forrester Research (NASDAQ:FORR) Announces Earnings Results

Forrester Research (NASDAQ:FORR) issued its earnings results on Thursday. The technology company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04), FiscalAI reports. The firm had revenue of $101.06 million during the quarter, compared to analyst estimates of $103.26 million. Forrester Research had a positive return on equity of 9.18% and a negative net margin of 21.06%.

Forrester Research Stock Performance

Shares of NASDAQ FORR traded down $0.35 during midday trading on Thursday, hitting $6.21. 239,082 shares of the company’s stock were exchanged, compared to its average volume of 98,765. Forrester Research has a twelve month low of $6.20 and a twelve month high of $13.32. The firm has a market cap of $117.99 million, a P/E ratio of -1.38, a PEG ratio of 0.62 and a beta of 0.93. The stock’s 50 day moving average price is $7.61 and its 200-day moving average price is $8.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.06.

Institutional Investors Weigh In On Forrester Research

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in shares of Forrester Research by 402.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,190 shares of the technology company’s stock worth $66,000 after purchasing an additional 4,957 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Forrester Research in the 2nd quarter worth $131,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Forrester Research during the first quarter worth $149,000. Boothbay Fund Management LLC purchased a new stake in shares of Forrester Research during the third quarter valued at $152,000. Finally, Jane Street Group LLC purchased a new position in Forrester Research in the 1st quarter worth about $178,000. 55.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on FORR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forrester Research in a report on Monday, December 29th. Zacks Research raised shares of Forrester Research from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Wall Street Zen upgraded shares of Forrester Research from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

About Forrester Research

Forrester Research, Inc is a leading global research and advisory firm that provides insights and guidance to business and technology leaders. Founded in 1983 and headquartered in Cambridge, Massachusetts, the company offers a wide range of services designed to help clients understand market dynamics, evaluate technology investments and develop customer-centric strategies. Forrester’s core offerings include syndicated research reports, bespoke advisory services, consulting engagements and data-driven analytics.

Through its extensive research practice, Forrester produces in-depth analyses of emerging technologies, industry trends and best practices across sectors such as information technology, marketing, customer experience and digital business.