Forrester Research (NASDAQ:FORR) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday, BidAskClub reports.

A number of other research analysts have also commented on FORR. Zacks Investment Research raised Forrester Research from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. TheStreet lowered Forrester Research from a “b-” rating to a “c+” rating in a report on Wednesday, February 13th. Finally, Maxim Group began coverage on Forrester Research in a report on Wednesday, February 27th. They set a “buy” rating and a $62.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.00.

Shares of FORR opened at $49.72 on Friday. The firm has a market cap of $926.51 million, a PE ratio of 59.19 and a beta of 0.58. Forrester Research has a one year low of $36.19 and a one year high of $51.17.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings results on Wednesday, February 13th. The technology company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The business had revenue of $98.58 million for the quarter, compared to analyst estimates of $96.45 million. Forrester Research had a net margin of 4.30% and a return on equity of 10.61%. Sell-side analysts predict that Forrester Research will post -0.48 EPS for the current fiscal year.

In related news, insider Ryan Darrah sold 1,350 shares of Forrester Research stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $49.46, for a total transaction of $66,771.00. Following the transaction, the insider now directly owns 10,387 shares of the company’s stock, valued at $513,741.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Carrie Johnson sold 2,286 shares of Forrester Research stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $50.02, for a total value of $114,345.72. Following the transaction, the insider now directly owns 3,107 shares in the company, valued at $155,412.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,404 shares of company stock worth $705,833. 43.40% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in FORR. Meeder Asset Management Inc. bought a new position in shares of Forrester Research in the 1st quarter valued at approximately $26,000. Roubaix Capital LLC bought a new position in shares of Forrester Research in the 1st quarter valued at approximately $4,941,000. Geode Capital Management LLC raised its stake in shares of Forrester Research by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 137,374 shares of the technology company’s stock valued at $6,140,000 after acquiring an additional 8,188 shares in the last quarter. Norges Bank bought a new position in shares of Forrester Research in the 4th quarter valued at approximately $13,565,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Forrester Research by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 777,645 shares of the technology company’s stock valued at $34,761,000 after acquiring an additional 2,723 shares in the last quarter. 58.32% of the stock is currently owned by hedge funds and other institutional investors.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research, data, and advisory services company. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making.

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