Forrester Research (NASDAQ:FORR) Issues Earnings Results

Key Points

• Forrester Research beat quarterly expectations: Earnings were $0.24 per share versus the $0.20 consensus estimate, while revenue reached $86.11 million compared with expectations of $81.78 million.
• Shares rose to $12.18 in midday trading, near the company’s 12-month high of $12.75. The stock has climbed substantially from its 12-month low of $4.88.
• Analyst sentiment remains cautious, with the stock carrying an average “Reduce” rating despite one recent upgrade to “Buy.” An insider also sold 5,000 shares, while insiders collectively own 40.70% of the company.

Forrester Research (NASDAQ:FORR - Get Free Report) announced its quarterly earnings results on Thursday. The technology company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04, FiscalAI reports. The firm had revenue of $86.11 million during the quarter, compared to analysts' expectations of $81.78 million. Forrester Research had a negative net margin of 11.17% and a positive return on equity of 6.19%.

Forrester Research Stock Performance

Shares of NASDAQ FORR traded up $0.14 during mid-day trading on Thursday, hitting $12.18. The stock had a trading volume of 168,418 shares, compared to its average volume of 122,061. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.06 and a current ratio of 1.06. The company has a 50 day moving average of $11.81 and a two-hundred day moving average of $8.57. Forrester Research has a twelve month low of $4.88 and a twelve month high of $12.75. The firm has a market cap of $231.90 million, a PE ratio of -5.41, a PEG ratio of 2.35 and a beta of 0.99.

Insider Buying and Selling

In other Forrester Research news, insider Ryan Darrah sold 5,000 shares of Forrester Research stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $11.78, for a total transaction of $58,900.00. Following the completion of the sale, the insider owned 27,244 shares of the company's stock, valued at approximately $320,934.32. The trade was a 15.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 40.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FORR shares. Wall Street Zen upgraded Forrester Research from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Forrester Research in a research report on Monday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce".

Forrester Research Company Profile

Forrester Research, Inc is a global research and advisory firm that provides business and technology leaders with insights, guidance and tools to support strategic decision-making. The company serves professionals across areas including technology management, marketing, customer experience, sales and product development.

Forrester's offerings include syndicated research, proprietary data and analysis, consulting services, advisory support, executive peer exchanges, events and subscription-based access to its research platform.

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