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Barrington Releases a Buy Rating on Forrester Research (FORR)

Barrington analyst Vincent Colicchio assigned a Buy rating to Forrester Research (FORRResearch Report) today and set a price target of $65.00. The company’s shares closed last Friday at $48.47.

According to TipRanks.com, Colicchio is a 5-star analyst with an average return of 12.6% and a 56.4% success rate. Colicchio covers the Technology sector, focusing on stocks such as TD SYNNEX Corporation, Exlservice Holdings, and Insight Enterprises.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Forrester Research with a $65.00 average price target.

See the top stocks recommended by analysts >>

Based on Forrester Research’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $125 million and net profit of $4.15 million. In comparison, last year the company earned revenue of $114 million and had a net profit of $3.96 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FORR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Forrester Research, Inc. engages in the provision of research, data, and advisory services. It operates through the following segments: Research, Product, and Project Consulting. The Research segment includes research personnel who are responsible for writing the research and performing the webinars and inquiries for the company’s research and connect products. The Product segment consists of product management organization that is responsible for product pricing, packaging and the launch of new products. The Project Consulting segment comprises of consultants that delivers project consulting services. The company was founded by George F. Colony on July 7, 1983 and is headquartered in Cambridge, MA.

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