Forrester Research (NASDAQ:FORR) Releases FY 2022 Earnings Guidance

Forrester Research (NASDAQ:FORRGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.25-$2.35 for the period, compared to the consensus estimate of $2.30. The company issued revenue guidance of $550.00 million-$560.00 million, compared to the consensus revenue estimate of $554.48 million.Forrester Research also updated its Q2 2022 guidance to $0.70-$0.76 EPS.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Forrester Research from a hold rating to a buy rating and set a $56.00 price target on the stock in a report on Monday, May 16th. StockNews.com started coverage on shares of Forrester Research in a report on Thursday, March 31st. They issued a strong-buy rating on the stock.

FORR traded up $0.02 on Monday, hitting $49.14. The company had a trading volume of 22 shares, compared to its average volume of 46,111. The firm has a market cap of $927.57 million, a P/E ratio of 38.08, a PEG ratio of 1.70 and a beta of 0.98. Forrester Research has a 1 year low of $39.64 and a 1 year high of $60.90. The company’s fifty day moving average price is $54.42 and its 200 day moving average price is $55.35. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.30.

Forrester Research (NASDAQ:FORRGet Rating) last released its earnings results on Thursday, May 5th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.11. The company had revenue of $124.97 million during the quarter, compared to the consensus estimate of $121.62 million. Forrester Research had a return on equity of 14.57% and a net margin of 4.95%. On average, analysts predict that Forrester Research will post 1.8 earnings per share for the current year.

In other Forrester Research news, Director David Boyce sold 2,000 shares of Forrester Research stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $50.53, for a total value of $101,060.00. Following the completion of the transaction, the director now directly owns 7,183 shares of the company’s stock, valued at approximately $362,956.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 40.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Forrester Research by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,586 shares of the technology company’s stock worth $541,000 after buying an additional 1,182 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Forrester Research by 179.8% in the third quarter. BNP Paribas Arbitrage SA now owns 10,964 shares of the technology company’s stock valued at $540,000 after purchasing an additional 7,046 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Forrester Research by 5,808.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,208 shares of the technology company’s stock valued at $424,000 after purchasing an additional 7,086 shares in the last quarter. Lido Advisors LLC acquired a new position in Forrester Research in the first quarter valued at approximately $418,000. Finally, Alliancebernstein L.P. boosted its holdings in Forrester Research by 8.6% in the fourth quarter. Alliancebernstein L.P. now owns 6,423 shares of the technology company’s stock valued at $377,000 after purchasing an additional 506 shares in the last quarter. 52.96% of the stock is owned by institutional investors and hedge funds.

Forrester Research Company Profile (Get Rating)

Forrester Research, Inc operates as an independent research and advisory services company. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research portfolio services 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.

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