Forrester Research (NASDAQ:FORR) Updates FY 2024 Earnings Guidance

Forrester Research (NASDAQ:FORR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.500-1.700 for the period, compared to the consensus estimate of 1.580. The company issued revenue guidance of $430.0 million-$450.0 million, compared to the consensus revenue estimate of $437.8 million.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Forrester Research from a buy rating to a hold rating in a report on Friday, April 19th.

Forrester Research Price Performance

Shares of FORR traded down $0.70 during mid-day trading on Tuesday, reaching $18.19. 159,374 shares of the stock traded hands, compared to its average volume of 146,143. The company has a market cap of $352.70 million, a price-to-earnings ratio of 111.12, a price-to-earnings-growth ratio of 1.34 and a beta of 0.91. Forrester Research has a 1 year low of $18.10 and a 1 year high of $32.79. The firm has a fifty day moving average price of $19.99 and a 200 day moving average price of $23.37. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.15.

Forrester Research (NASDAQ:FORR) last announced its earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The business had revenue of $118.09 million during the quarter, compared to the consensus estimate of $116.43 million. Forrester Research had a return on equity of 10.77% and a net margin of 0.63%. As a group, equities research analysts predict that Forrester Research will post 1.04 earnings per share for the current year.

Insider Buying and Selling at Forrester Research

In other news, Director Robert Galford sold 13,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $20.73, for a total value of $269,490.00. Following the transaction, the director now owns 20,489 shares of the company’s stock, valued at approximately $424,736.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 39.20% of the stock is currently owned by company insiders.

About Forrester Research

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.