Forrester Research (NASDAQ:FORR) Issues FY 2024 Earnings Guidance

Forrester Research (NASDAQ:FORR) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.500-1.700 for the period, compared to the consensus EPS estimate of 1.580. The company issued revenue guidance of $430.0 million-$450.0 million, compared to the consensus revenue estimate of $437.8 million.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Forrester Research from a buy rating to a hold rating in a report on Friday, April 19th.

Forrester Research Stock Performance

NASDAQ:FORR traded down $0.70 during midday trading on Tuesday, hitting $18.19. The company’s stock had a trading volume of 159,374 shares, compared to its average volume of 146,143. Forrester Research has a fifty-two week low of $18.10 and a fifty-two week high of $32.79. The firm’s 50 day moving average is $19.95 and its 200-day moving average is $23.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $352.70 million, a P/E ratio of 107.00, a P/E/G ratio of 1.34 and a beta of 0.91.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Forrester Research had a return on equity of 10.77% and a net margin of 0.63%. The business had revenue of $118.09 million during the quarter, compared to analyst estimates of $116.43 million. Equities analysts anticipate that Forrester Research will post 1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Galford sold 13,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $20.73, for a total transaction of $269,490.00. Following the transaction, the director now owns 20,489 shares in the company, valued at approximately $424,736.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 39.20% of the company’s stock.

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.