Forrester Research’s (FORR) “Buy” Rating Reaffirmed at Maxim Group

Maxim Group reissued their buy rating on shares of Forrester Research (NASDAQ:FORR) in a research report report published on Thursday morning, Briefing.com Automated Import reports. The firm currently has a $59.00 price objective on the technology company’s stock, down from their prior price objective of $62.00.

FORR has been the subject of several other reports. Zacks Investment Research cut shares of Forrester Research from a buy rating to a hold rating in a research report on Monday, July 29th. Barrington Research restated a hold rating on shares of Forrester Research in a research report on Wednesday, May 29th. BidaskClub upgraded shares of Forrester Research from a sell rating to a hold rating in a research report on Thursday, July 18th. Finally, TheStreet cut shares of Forrester Research from an a- rating to a c+ rating in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $56.00.

Shares of NASDAQ FORR traded down $1.14 during mid-day trading on Thursday, reaching $39.03. The company’s stock had a trading volume of 3,366 shares, compared to its average volume of 59,940. The business has a 50-day simple moving average of $47.52. The firm has a market cap of $740.61 million, a PE ratio of 46.46 and a beta of 0.66. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.44. Forrester Research has a 1-year low of $36.19 and a 1-year high of $51.75.

Forrester Research (NASDAQ:FORR) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.04. The business had revenue of $128.18 million during the quarter, compared to analysts’ expectations of $126.76 million. Forrester Research had a negative net margin of 0.59% and a negative return on equity of 1.65%. As a group, equities analysts predict that Forrester Research will post -0.58 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently made changes to their positions in FORR. Norges Bank acquired a new stake in shares of Forrester Research during the fourth quarter valued at about $13,565,000. Assenagon Asset Management S.A. purchased a new position in shares of Forrester Research in the first quarter valued at approximately $5,383,000. Millennium Management LLC boosted its stake in shares of Forrester Research by 85.9% in the fourth quarter. Millennium Management LLC now owns 71,972 shares of the technology company’s stock valued at $3,217,000 after purchasing an additional 33,248 shares during the period. Martingale Asset Management L P boosted its stake in shares of Forrester Research by 22.0% in the first quarter. Martingale Asset Management L P now owns 62,205 shares of the technology company’s stock valued at $3,008,000 after purchasing an additional 11,200 shares during the period. Finally, Grandview Asset Management LLC purchased a new position in shares of Forrester Research in the second quarter valued at approximately $430,000. Institutional investors and hedge funds own 56.10% of the company’s stock.

Forrester Research Company Profile

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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