Barrington analyst Vincent Colicchio reiterated a Buy rating on Forrester Research (FORR – Research Report) today and set a price target of $65.00. The company’s shares closed last Friday at $51.73.
According to TipRanks.com, Colicchio is a 5-star analyst with an average return of 15.6% and a 58.7% success rate. Colicchio covers the Technology sector, focusing on stocks such as Insight Enterprises, Exlservice Holdings, and HealthStream.
Forrester Research has an analyst consensus of Moderate Buy, with a price target consensus of $65.00.
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Based on Forrester Research’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $118 million and net profit of $4.52 million. In comparison, last year the company earned revenue of $109 million and had a GAAP net loss of $3.76 million.
Based on the recent corporate insider activity of 44 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.
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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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