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

Forrester Research (NASDAQ:FORR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.370-1.570 for the period, compared to the consensus earnings per share estimate of 1.460. The company issued revenue guidance of $425.0 million-$435.0 million, compared to the consensus revenue estimate of $430.3 million.

Forrester Research Stock Up 7.0 %

Shares of NASDAQ:FORR traded up $1.04 during trading hours on Wednesday, hitting $16.00. The company’s stock had a trading volume of 168,182 shares, compared to its average volume of 118,094. The firm’s fifty day moving average price is $16.88 and its 200 day moving average price is $17.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $304.96 million, a price-to-earnings ratio of 200.00, a P/E/G ratio of 1.19 and a beta of 0.88. Forrester Research has a 52 week low of $14.38 and a 52 week high of $27.89.

Forrester Research (NASDAQ:FORR) last announced its earnings results on Tuesday, November 5th. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.11). The business had revenue of $102.53 million for the quarter, compared to analyst estimates of $101.94 million. Forrester Research had a net margin of 0.32% and a return on equity of 6.52%. As a group, research analysts expect that Forrester Research will post 0.91 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Forrester Research from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st.

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.