Forrester Research, Inc. (NASDAQ: FORR – Get a rating) – Equity researchers William Blair cut their fiscal year 2022 earnings estimates for Forrester Research in a research report delivered to clients and investors on Monday, August 1. William Blair analyst A. Nicholas now expects the technology company to post earnings of $1.79 per share for the year, down from its previous forecast of $1.81. William Blair currently has a “Market Perform” rating on the stock. Forrester Research’s current annual earnings consensus estimate is $1.79 per share. William Blair also released estimates for Forrester Research Q4 2022 earnings at $0.35 EPS, Q1 2023 earnings at $0.37 EPS, Q2 2023 earnings at $0.79 EPS, Q4 2023 at $0.46 EPS and FY2023 earnings at $1.99 EPS.
Forrester Research Stock Performance
FORR opened at $46.14 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt ratio of 0.30. The company has a market capitalization of $871.12 million, a price-earnings ratio of 29.20, a PEG ratio of 1.73 and a beta of 0.92. The company’s 50-day moving average is $47.70 and its 200-day moving average is $51.61. Forrester Research has a 12-month low of $42.59 and a 12-month high of $60.90.
Forrester Research (NASDAQ: FORR – Get a rating) last announced its quarterly results on Thursday, May 5. The technology company reported EPS of $0.31 for the quarter, beating consensus analyst estimates of $0.20 by $0.11. The company posted revenue of $124.97 million in the quarter, compared to analyst estimates of $121.62 million. Forrester Research had a net margin of 5.82% and a return on equity of 18.43%.
Insider buying and selling
In related news, insider Alicia Lee sold 1,428 shares of the company in a trade that took place on Friday, May 27. The shares were sold at an average price of $52.00, for a total value of $74,256.00. Following the transaction, the insider now owns 3,819 shares of the company, valued at $198,588. The transaction was disclosed in a legal filing with the SEC, accessible via this link. In related news, insider Alicia Lee sold 1,428 shares of the company in a trade that took place on Friday, May 27. The shares were sold at an average price of $52.00, for a total value of $74,256.00. Following the transaction, the insider now owns 3,819 shares of the company, valued at $198,588. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Also, director David Boyce sold 2,000 shares of the company in a trade that took place on Tuesday, May 10. The stock was sold at an average price of $50.53, for a total transaction of $101,060.00. Following completion of the transaction, the administrator now directly owns 7,183 shares of the company, valued at approximately $362,956.99. Disclosure of this sale can be found here. 40.60% of the shares are currently held by insiders.
Hedge funds weigh on Forrester Research
Several large investors have recently increased or reduced their stake in the company. The New York State Teachers’ Retirement System increased its stake in Forrester Research by 27.5% in the second quarter. The New York State Teachers’ Retirement System now owns 8,382 shares of the technology company valued at $401,000 after buying an additional 1,810 shares last quarter. Russell Investments Group Ltd. increased its stake in Forrester Research by 147.9% during the second quarter. Russell Investments Group Ltd. now owns 12,145 shares of the technology company valued at $579,000 after purchasing an additional 7,245 shares last quarter. Assenagon Asset Management SA increased its stake in Forrester Research by 102.6% during the second quarter. Assenagon Asset Management SA now owns 153,432 shares of the technology company valued at $7,340,000 after buying an additional 77,719 shares last quarter. KBC Group NV acquired a new position in Forrester Research during the second quarter, valued at approximately $45,000. Finally, Exchange Traded Concepts LLC increased its stake in Forrester Research by 2.4% in the second quarter. Exchange Traded Concepts LLC now owns 11,311 shares of the technology company valued at $541,000 after buying an additional 260 shares last quarter. Hedge funds and other institutional investors hold 52.96% of the company’s shares.
Forrester Research Company Profile
Forrester Research, Inc operates as an independent research and consulting firm. The Company operates in three segments: Research, Consulting and Events. Core services in the Research segment’s subscription-based research portfolio include Forrester Research, SiriusDecisions Research and Forrester Decisions, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.
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