Forrester Research (NASDAQ:FORR) Upgraded by StockNews.com to “Buy”

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

Forrester Research Stock Performance

FORR stock opened at $16.90 on Thursday. The company has a market capitalization of $322.96 million, a price-to-earnings ratio of 563.33, a P/E/G ratio of 1.21 and a beta of 0.92. The firm has a 50 day moving average of $17.97 and a two-hundred day moving average of $21.18. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. Forrester Research has a 12 month low of $16.14 and a 12 month high of $32.79.

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). Forrester Research had a return on equity of 9.30% and a net margin of 0.10%. The business had revenue of $100.08 million during the quarter, compared to the consensus estimate of $104.21 million. As a group, equities analysts anticipate that Forrester Research will post 1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Forrester Research

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in shares of Forrester Research by 123.3% in the first quarter. Comerica Bank now owns 11,789 shares of the technology company’s stock valued at $254,000 after purchasing an additional 6,510 shares during the period. Kent Lake Capital LLC acquired a new position in Forrester Research in the 1st quarter valued at $11,473,000. Paloma Partners Management Co bought a new position in Forrester Research in the 1st quarter worth $222,000. Price T Rowe Associates Inc. MD raised its holdings in 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 during the period. Finally, Quadrature Capital Ltd acquired a new position in Forrester Research during the 1st quarter worth $315,000. 55.20% of the stock is currently owned by institutional investors and hedge funds.

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.