Forrester Research, Inc. (FORR) Stock Rating Upgraded by Zacks Investment Research
Forrester Research, Inc. (NASDAQ:FORR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Forrester Research, Inc. is a leading independent Internet research firm that conducts research and analysis on the impact of the Internet and emerging technologies on business strategy, consumer behavior and society. The company provide clients with a comprehensive and integrated perspective on technology and business, which we call the Whole View of Internet commerce. The company’s Whole View approach helps companies evolve their business models and infrastructure to embrace broader on-line markets and to scale their Internet operations. “
Separately, BidaskClub raised shares of Forrester Research from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th.
Shares of Forrester Research (NASDAQ:FORR) traded up 4.95% on Monday, hitting $40.30. 61,066 shares of the stock traded hands. The stock has a 50-day moving average price of $40.06 and a 200 day moving average price of $39.29. Forrester Research has a 52 week low of $34.95 and a 52 week high of $44.40. The firm has a market cap of $714.64 million, a P/E ratio of 41.12 and a beta of 0.42.
Forrester Research (NASDAQ:FORR) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. Forrester Research had a net margin of 5.49% and a return on equity of 13.00%. The company had revenue of $89.70 million during the quarter, compared to the consensus estimate of $87.51 million. During the same period in the previous year, the firm posted $0.46 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that Forrester Research will post $1.18 EPS for the current fiscal year.
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In other news, Director Michael Welles sold 12,388 shares of Forrester Research stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $40.53, for a total transaction of $502,085.64. Following the completion of the sale, the director now directly owns 17,824 shares of the company’s stock, valued at approximately $722,406.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Morhardt sold 2,880 shares of Forrester Research stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $38.70, for a total transaction of $111,456.00. Following the sale, the insider now directly owns 5,176 shares of the company’s stock, valued at $200,311.20. The disclosure for this sale can be found here. Insiders have sold a total of 38,763 shares of company stock valued at $1,558,513 over the last ninety days. 46.60% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of FORR. BlueCrest Capital Management Ltd acquired a new stake in Forrester Research during the second quarter valued at $307,000. State Street Corp increased its stake in Forrester Research by 5.3% in the second quarter. State Street Corp now owns 265,972 shares of the technology company’s stock valued at $10,416,000 after buying an additional 13,450 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in Forrester Research by 27.0% in the second quarter. Tudor Investment Corp ET AL now owns 8,527 shares of the technology company’s stock valued at $334,000 after buying an additional 1,812 shares in the last quarter. QS Investors LLC increased its stake in Forrester Research by 9.7% in the second quarter. QS Investors LLC now owns 6,130 shares of the technology company’s stock valued at $240,000 after buying an additional 544 shares in the last quarter. Finally, Numeric Investors LLC increased its stake in Forrester Research by 29.6% in the second quarter. Numeric Investors LLC now owns 48,109 shares of the technology company’s stock valued at $1,883,000 after buying an additional 11,000 shares in the last quarter. 54.68% of the stock is owned by institutional investors and hedge funds.
Forrester Research Company Profile
Forrester Research, Inc (Forrester) is an independent research, data, and advisory services firm. The Company offers research, data, advisory and related services that are thematic, prescriptive and executable, and that provide a perspective on the changing business environment. Its segments include Research, Product and Project Consulting.
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