Brokerages Set Forrester Research, Inc. (FORR) Target Price at $62.00
Shares of Forrester Research, Inc. (NASDAQ:FORR) have received a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $62.00.
Several research firms have recently commented on FORR. TheStreet raised shares of Forrester Research from a “c+” rating to an “a-” rating in a research note on Thursday, April 18th. BidaskClub downgraded Forrester Research from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research raised Forrester Research from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Maxim Group initiated coverage on Forrester Research in a research note on Wednesday, February 27th. They issued a “buy” rating and a $62.00 price objective on the stock.
In other Forrester Research news, insider Ryan Darrah sold 1,350 shares of Forrester Research stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $49.46, for a total value of $66,771.00. Following the transaction, the insider now directly owns 10,387 shares of the company’s stock, valued at approximately $513,741.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael A. Doyle sold 10,415 shares of Forrester Research stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $48.72, for a total value of $507,418.80. Following the completion of the transaction, the chief financial officer now directly owns 50,585 shares in the company, valued at $2,464,501.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,404 shares of company stock worth $705,833. Company insiders own 43.40% of the company’s stock.
Shares of NASDAQ FORR traded up $1.06 during midday trading on Thursday, hitting $50.54. The company’s stock had a trading volume of 447 shares, compared to its average volume of 57,491. Forrester Research has a 1 year low of $36.19 and a 1 year high of $51.17. The firm has a market cap of $911.42 million, a price-to-earnings ratio of 60.17 and a beta of 0.58.
Forrester Research (NASDAQ:FORR) last posted its quarterly earnings data on Wednesday, February 13th. The technology company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.09). Forrester Research had a net margin of 4.30% and a return on equity of 10.61%. The business had revenue of $98.58 million during the quarter, compared to analysts’ expectations of $96.45 million. As a group, analysts forecast that Forrester Research will post -0.48 EPS for the current fiscal year.
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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