Analysts Set Forrester Research, Inc. (NASDAQ:FORR) PT at $62.00

Forrester Research, Inc. (NASDAQ:FORR) has been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $62.00.

FORR has been the subject of several research reports. TheStreet raised shares of Forrester Research from a “c+” rating to an “a-” rating in a research note on Thursday, April 18th. BidaskClub cut shares of Forrester Research from a “hold” rating to a “sell” rating in a research note on Saturday, May 18th. Zacks Investment Research raised shares of Forrester Research from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Maxim Group reissued a “buy” rating and set a $62.00 price objective on shares of Forrester Research in a research note on Wednesday, April 24th. Finally, Barrington Research reissued a “hold” rating on shares of Forrester Research in a research note on Wednesday, May 29th.

In related news, Director Gretchen Teichgraeber sold 1,000 shares of Forrester Research stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.83, for a total transaction of $45,830.00. Following the transaction, the director now owns 17,701 shares in the company, valued at approximately $811,236.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kelley Hippler sold 3,000 shares of Forrester Research stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.03, for a total transaction of $138,090.00. Following the transaction, the insider now owns 23,253 shares in the company, valued at approximately $1,070,335.59. The disclosure for this sale can be found here. Insiders own 43.40% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its holdings in shares of Forrester Research by 48.7% during the 4th quarter. Bessemer Group Inc. now owns 22,600 shares of the technology company’s stock valued at $1,010,000 after acquiring an additional 7,400 shares in the last quarter. Morgan Stanley lifted its holdings in Forrester Research by 6.3% in the 3rd quarter. Morgan Stanley now owns 55,893 shares of the technology company’s stock worth $2,565,000 after buying an additional 3,332 shares in the last quarter. Rhumbline Advisers lifted its holdings in Forrester Research by 21.4% in the 4th quarter. Rhumbline Advisers now owns 29,505 shares of the technology company’s stock worth $1,319,000 after buying an additional 5,194 shares in the last quarter. Norges Bank acquired a new position in Forrester Research in the 4th quarter worth $13,565,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Forrester Research by 940.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,415 shares of the technology company’s stock worth $117,000 after buying an additional 2,183 shares in the last quarter. Institutional investors and hedge funds own 56.09% of the company’s stock.

Shares of NASDAQ FORR traded down $0.21 during trading on Tuesday, hitting $47.21. 46,493 shares of the company traded hands, compared to its average volume of 50,198. Forrester Research has a 1 year low of $36.19 and a 1 year high of $51.75. The stock has a 50-day moving average of $46.61. The company has a market cap of $870.41 million, a price-to-earnings ratio of 56.20 and a beta of 0.65. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.66 and a quick ratio of 0.66.

Forrester Research (NASDAQ:FORR) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported ($0.73) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.03. Forrester Research had a net margin of 1.00% and a return on equity of 2.61%. The company had revenue of $100.65 million during the quarter, compared to analysts’ expectations of $98.00 million. On average, research analysts predict that Forrester Research will post -0.52 EPS for the current fiscal year.

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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