Forrester Research (NASDAQ:FORR) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Forrester Research (NASDAQ:FORR) from a hold rating to a buy rating in a research note released on Thursday.

Forrester Research Stock Up 1.1 %

NASDAQ FORR opened at $17.08 on Thursday. Forrester Research has a one year low of $16.14 and a one year high of $32.79. The company has a market capitalization of $326.35 million, a P/E ratio of 569.33, a P/E/G ratio of 1.20 and a beta of 0.92. The stock has a 50 day moving average price of $17.94 and a 200-day moving average price of $21.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings data on Tuesday, April 30th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The company had revenue of $100.08 million for the quarter, compared to analysts’ expectations of $104.21 million. Forrester Research had a net margin of 0.10% and a return on equity of 9.30%. As a group, equities analysts predict that Forrester Research will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Comerica Bank raised its stake in shares of Forrester Research by 123.3% during the first quarter. Comerica Bank now owns 11,789 shares of the technology company’s stock valued at $254,000 after acquiring an additional 6,510 shares in the last quarter. Kent Lake Capital LLC purchased a new position in Forrester Research during the 1st quarter valued at about $11,473,000. Paloma Partners Management Co purchased a new stake in shares of Forrester Research in the 1st quarter worth approximately $222,000. Price T Rowe Associates Inc. MD raised its position in shares of Forrester Research by 31.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,259 shares of the technology company’s stock worth $631,000 after acquiring an additional 6,988 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Forrester Research during the 1st quarter worth approximately $315,000. Hedge funds and other institutional investors own 55.20% of the company’s stock.

About Forrester Research

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.