Zacks: Analysts Expect Forrester Research, Inc. (NASDAQ:FORR) Will Announce Quarterly Sales of $107.21 Million

Wall Street analysts expect that Forrester Research, Inc. (NASDAQ:FORR) will post sales of $107.21 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Forrester Research’s earnings, with estimates ranging from $107.02 million to $107.40 million. Forrester Research reported sales of $84.89 million in the same quarter last year, which indicates a positive year over year growth rate of 26.3%. The business is expected to report its next earnings results on Wednesday, October 23rd.

On average, analysts expect that Forrester Research will report full-year sales of $461.66 million for the current year, with estimates ranging from $461.62 million to $461.70 million. For the next financial year, analysts anticipate that the business will report sales of $493.00 million, with estimates ranging from $484.70 million to $501.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Forrester Research.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. Forrester Research had a negative return on equity of 1.65% and a negative net margin of 0.59%. The business had revenue of $128.18 million during the quarter, compared to analyst estimates of $126.76 million.

A number of brokerages have issued reports on FORR. Maxim Group reaffirmed a “buy” rating and set a $59.00 price target (down from $62.00) on shares of Forrester Research in a research note on Thursday, August 1st. ValuEngine lowered Forrester Research from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Zacks Investment Research raised Forrester Research from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Thursday, August 1st. Sidoti began coverage on Forrester Research in a research note on Wednesday, August 28th. They set a “buy” rating and a $55.00 price target for the company. Finally, BidaskClub lowered Forrester Research from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Forrester Research has a consensus rating of “Hold” and a consensus target price of $55.67.

FORR stock traded up $0.08 on Friday, reaching $36.35. The company’s stock had a trading volume of 17,945 shares, compared to its average volume of 55,998. The firm has a fifty day moving average of $37.22 and a two-hundred day moving average of $45.54. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $673.37 million, a P/E ratio of 43.27 and a beta of 0.75. Forrester Research has a 52 week low of $31.77 and a 52 week high of $51.75.

In other news, Director Neil Bradford purchased 3,040 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average cost of $32.63 per share, with a total value of $99,195.20. Following the purchase, the director now owns 8,809 shares in the company, valued at approximately $287,437.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 43.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Forrester Research by 940.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the technology company’s stock worth $117,000 after acquiring an additional 2,183 shares in the last quarter. Menta Capital LLC boosted its stake in shares of Forrester Research by 53.1% during the 2nd quarter. Menta Capital LLC now owns 10,095 shares of the technology company’s stock worth $475,000 after acquiring an additional 3,500 shares in the last quarter. Swiss National Bank boosted its stake in shares of Forrester Research by 11.5% during the 2nd quarter. Swiss National Bank now owns 20,350 shares of the technology company’s stock worth $957,000 after acquiring an additional 2,100 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Forrester Research by 27.8% during the 1st quarter. MetLife Investment Advisors LLC now owns 4,738 shares of the technology company’s stock worth $229,000 after acquiring an additional 1,031 shares in the last quarter. Finally, Texas Permanent School Fund boosted its stake in shares of Forrester Research by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 6,945 shares of the technology company’s stock worth $336,000 after acquiring an additional 252 shares in the last quarter. 56.01% of the stock is owned by institutional investors and hedge funds.

About Forrester Research

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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