Forrester Research (NASDAQ:FORR) Releases Earnings Results, Misses Estimates By $0.04 EPS

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

Forrester Research Stock Performance

Shares of FORR traded down $0.35 during mid-day trading on Thursday, hitting $6.21. The company’s stock had a trading volume of 239,082 shares, compared to its average volume of 98,765. The stock’s 50-day moving average is $7.61 and its two-hundred day moving average is $8.58. The firm has a market capitalization of $117.99 million, a PE ratio of -1.38, a price-to-earnings-growth ratio of 0.62 and a beta of 0.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.06 and a current ratio of 1.06. Forrester Research has a one year low of $6.20 and a one year high of $13.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FORR. Jane Street Group LLC lifted its stake in shares of Forrester Research by 7.8% in the second quarter. Jane Street Group LLC now owns 20,741 shares of the technology company’s stock valued at $205,000 after buying an additional 1,494 shares during the period. Engineers Gate Manager LP grew its holdings in shares of Forrester Research by 9.7% during the 2nd quarter. Engineers Gate Manager LP now owns 19,626 shares of the technology company’s stock worth $194,000 after purchasing an additional 1,728 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Forrester Research by 1.0% during the second quarter. Federated Hermes Inc. now owns 252,810 shares of the technology company’s stock valued at $2,503,000 after purchasing an additional 2,446 shares during the period. Vanguard Group Inc. raised its stake in shares of Forrester Research by 0.6% in the third quarter. Vanguard Group Inc. now owns 649,765 shares of the technology company’s stock valued at $6,888,000 after purchasing an additional 3,795 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Forrester Research by 402.0% in the third 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 during the period. Institutional investors own 55.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FORR shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forrester Research in a research note on Monday, December 29th. Wall Street Zen raised shares of Forrester Research from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Zacks Research raised Forrester Research from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock 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.