Forrester Research (NASDAQ:FORR) announced its quarterly earnings results on Tuesday. The technology company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.03, Morningstar.com reports. The company had revenue of $100.65 million during the quarter, compared to the consensus estimate of $98.00 million. Forrester Research had a net margin of 1.00% and a return on equity of 2.60%.
NASDAQ FORR traded down $0.12 on Thursday, reaching $50.08. The company had a trading volume of 462 shares, compared to its average volume of 36,435. The company has a market capitalization of $936.83 million, a price-to-earnings ratio of 59.62 and a beta of 0.60. Forrester Research has a fifty-two week low of $36.19 and a fifty-two week high of $51.51.
FORR has been the subject of several research analyst reports. TheStreet upgraded shares of Forrester Research from a “c+” rating to an “a-” rating in a report on Thursday, April 18th. Maxim Group restated a “buy” rating and issued a $62.00 price objective on shares of Forrester Research in a report on Wednesday, April 24th. Zacks Investment Research upgraded Forrester Research from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, February 1st. Finally, BidaskClub upgraded Forrester Research from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Forrester Research currently has an average rating of “Hold” and a consensus target price of $56.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of FORR. Norges Bank bought a new position in shares of Forrester Research in the 4th quarter worth $13,565,000. Assenagon Asset Management S.A. bought a new stake in shares of Forrester Research in the first quarter valued at approximately $5,383,000. Roubaix Capital LLC bought a new stake in shares of Forrester Research in the first quarter valued at approximately $4,941,000. BlackRock Inc. boosted its stake in shares of Forrester Research by 6.8% in the third quarter. BlackRock Inc. now owns 1,485,725 shares of the technology company’s stock valued at $68,194,000 after buying an additional 94,937 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Forrester Research by 85.9% in the fourth quarter. Millennium Management LLC now owns 71,972 shares of the technology company’s stock valued at $3,217,000 after buying an additional 33,248 shares during the period. Institutional investors and hedge funds own 58.32% of the company’s stock.
Forrester Research Company Profile
Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.
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