Wall Street Zen Downgrades Forrester Research (NASDAQ:FORR) to Hold

Key Points

• Forrester Research (NASDAQ:FORR) has been downgraded from a "buy" to a "hold" rating by Wall Street Zen in a recent analysis.
• Other analysts, including Zacks Research, have also rated Forrester as "hold," while Weiss Ratings maintains a "sell" rating, leading to a consensus rating of "Reduce" for the stock.
• The stock is currently priced at $8.68, having a market cap of $165.44 million and a twelve-month high of $17.65.

Forrester Research (NASDAQ:FORR - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Other analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Forrester Research from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Forrester Research in a report on Wednesday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Forrester Research presently has a consensus rating of "Reduce".

Forrester Research Stock Performance

NASDAQ:FORR opened at $8.68 on Friday. The stock has a market cap of $165.44 million, a P/E ratio of -1.85, a price-to-earnings-growth ratio of 0.80 and a beta of 0.96. The firm's fifty day simple moving average is $9.91 and its 200 day simple moving average is $9.96. Forrester Research has a twelve month low of $8.45 and a twelve month high of $17.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Forrester Research

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its position in shares of Forrester Research by 1.2% in the 2nd quarter. Acadian Asset Management LLC now owns 336,650 shares of the technology company's stock worth $3,331,000 after purchasing an additional 4,152 shares during the last quarter. Invenomic Capital Management LP raised its position in shares of Forrester Research by 99.4% in the 1st quarter. Invenomic Capital Management LP now owns 322,163 shares of the technology company's stock worth $2,977,000 after purchasing an additional 160,569 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Forrester Research by 1.0% in the 2nd quarter. Federated Hermes Inc. now owns 252,810 shares of the technology company's stock worth $2,503,000 after purchasing an additional 2,446 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its position in shares of Forrester Research by 18.9% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 215,313 shares of the technology company's stock worth $1,989,000 after purchasing an additional 34,155 shares during the last quarter. Finally, Herald Investment Management Ltd purchased a new position in shares of Forrester Research in the 1st quarter worth about $1,386,000. Hedge funds and other institutional investors own 55.20% of the company's stock.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.

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