Zacks Investment Research has improved the shares of Forrester Research (NASDAQ:FORR – Get a Note) from a sell rating to a hold rating in a report released Tuesday, Zacks.com reports.
According to Zacks, “Forrester Research, Inc. is a global research and consulting firm serving professionals in 13 key roles across three distinct client segments. Their customers face increasingly complex business and technology decisions on a daily basis. To help them understand, strategize, and act on the opportunities brought about by change, Forrester provides proprietary research, consumer and business data, personalized guidance, online events and communities, and programs. peer-to-peer executives. They guide leaders in business technology, marketing and strategy, and the technology industry with independent factual information, ensuring their business success today and tomorrow. “
Separately, StockNews.com began covering Forrester Research stocks in a research note on Thursday, March 31. They issued a strong buy rating on the stock.
Forrester Research stock opened Tuesday at $57.42. The company has a market capitalization of $1.09 billion, a price/earnings ratio of 44.86, a PEG ratio of 1.95 and a beta of 1.04. The company’s fifty-day moving average is $53.65 and its 200-day moving average is $55.01. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt ratio of 0.37. Forrester Research has a 52-week low of $39.64 and a 52-week high of $60.90.
Forrester Research Inc (NASDAQ:FORR – Get Rating) last released its quarterly results on Thursday, February 10. The tech company reported earnings per share (EPS) of $0.48 for the quarter, matching the Zacks consensus estimate of $0.48. Forrester Research had a net margin of 5.03% and a return on equity of 13.74%. The company posted revenue of $133.73 million for the quarter, versus a consensus estimate of $133.95 million. In the same quarter of the previous year, the company had earned earnings per share of $0.13. On average, equity research analysts expect Forrester Research to post 1.79 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently changed their positions in the company. The California State Teachers Retirement System increased its holdings of Forrester Research stocks 1.5% in the fourth quarter. California State Teachers Retirement System now owns 15,635 shares of the technology company worth $918,000 after buying 232 additional shares in the last quarter. Royal Bank of Canada increased its holdings of Forrester Research shares by 24.7% in the third quarter. Royal Bank of Canada now owns 1,213 shares of the tech company worth $60,000 after buying 240 more shares in the last quarter. Voya Investment Management LLC increased its holdings of Forrester Research shares by 6.3% in the third quarter. Voya Investment Management LLC now owns 4,965 shares of the technology company worth $245,000 after buying 296 additional shares in the last quarter. Alliancebernstein LP increased its holdings of Forrester Research shares by 8.6% in the fourth quarter. Alliancebernstein LP now owns 6,423 shares of the technology company worth $377,000 after buying 506 additional shares in the last quarter. Finally, the New York State Teachers Retirement System increased its holdings of Forrester Research shares by 11.2% in the fourth quarter. The New York State Teachers’ Retirement System now owns 5,972 shares of the tech company worth $351,000 after buying an additional 600 shares last quarter. 52.96% of the shares are currently held by institutional investors and hedge funds.
Forrester Research Company Profile (Get a rating)
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.
Get a free copy of Zacks’ research report on Forrester Research (FORR)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Get news and reviews for Forrester Research Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst notes for Forrester Research and related companies with MarketBeat.com’s free daily email newsletter.