Forrester Research (NASDAQ:FORR) Rating Increased 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 report sent to investors on Thursday.

Forrester Research Stock Performance

Shares of NASDAQ FORR opened at $17.08 on Thursday. The company has a current ratio of 0.91, a quick 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. The company has a 50 day simple moving average of $17.94 and a two-hundred day simple moving average of $21.07. The stock has a market cap of $326.40 million, a price-to-earnings ratio of 569.33, a PEG ratio of 1.22 and a beta of 0.92.

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

Hedge Funds Weigh In On Forrester Research

A number of large investors have recently added to or reduced their stakes in FORR. Quest Partners LLC purchased a new stake in shares of Forrester Research during the fourth quarter worth $28,000. PNC Financial Services Group Inc. lifted its position in shares of Forrester Research by 52.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock worth $42,000 after purchasing an additional 533 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Forrester Research by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 4,380 shares of the technology company’s stock worth $117,000 after purchasing an additional 753 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Forrester Research during the 1st quarter worth about $186,000. Finally, Paloma Partners Management Co acquired a new stake in Forrester Research during the first quarter worth approximately $222,000. 55.20% of the stock is currently owned by institutional investors and hedge funds.

Forrester Research Company Profile

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.