BidaskClub Lowers Forrester Research (FORR) to Buy

Forrester Research (NASDAQ:FORR) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Separately, Zacks Investment Research raised Forrester Research from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, October 30th.

Forrester Research (NASDAQ:FORR) opened at $44.75 on Tuesday. Forrester Research has a 12-month low of $34.95 and a 12-month high of $47.75. The firm has a market capitalization of $804.38, a PE ratio of 43.74, a P/E/G ratio of 4.08 and a beta of 0.46.

Forrester Research (NASDAQ:FORR) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.07. Forrester Research had a return on equity of 13.80% and a net margin of 5.70%. The business had revenue of $80.40 million during the quarter, compared to analysts’ expectations of $78.92 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. equities research analysts anticipate that Forrester Research will post 0.92 earnings per share for the current year.

In other Forrester Research news, insider Scott Chouinard sold 887 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $44.25, for a total value of $39,249.75. Following the transaction, the insider now directly owns 2,261 shares in the company, valued at approximately $100,049.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael A. Doyle sold 10,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $46.09, for a total value of $460,900.00. Following the completion of the transaction, the chief financial officer now owns 31,562 shares in the company, valued at $1,454,692.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,722 shares of company stock valued at $1,097,617. 44.30% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Forrester Research by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 719,604 shares of the technology company’s stock worth $30,116,000 after buying an additional 8,216 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Forrester Research by 5.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 40,766 shares of the technology company’s stock worth $1,707,000 after buying an additional 2,081 shares during the period. JPMorgan Chase & Co. raised its stake in Forrester Research by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,351 shares of the technology company’s stock worth $644,000 after buying an additional 1,426 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Forrester Research by 59.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the technology company’s stock worth $153,000 after buying an additional 1,370 shares during the period. Finally, New York State Common Retirement Fund raised its stake in Forrester Research by 38.7% during the 3rd quarter. New York State Common Retirement Fund now owns 16,500 shares of the technology company’s stock worth $691,000 after buying an additional 4,600 shares during the period. Institutional investors and hedge funds own 54.42% of the company’s stock.

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About Forrester Research

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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