StockNews.com Upgrades Forrester Research (NASDAQ:FORR) to “Buy”

Forrester Research (NASDAQ:FORR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Forrester Research Stock Up 0.8 %

Shares of NASDAQ:FORR opened at $16.90 on Wednesday. The stock has a market capitalization of $321.10 million, a P/E ratio of -48.29, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. The stock’s 50-day moving average price is $16.24 and its 200-day moving average price is $17.38. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.15. Forrester Research has a 12-month low of $14.38 and a 12-month high of $27.89.

Institutional Trading of Forrester Research

Several hedge funds and other institutional investors have recently bought and sold shares of FORR. Millennium Management LLC increased its stake in shares of Forrester Research by 134.7% in the second quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock worth $4,687,000 after buying an additional 157,510 shares during the period. Assenagon Asset Management S.A. bought a new stake in Forrester Research in the 2nd quarter worth $995,000. Cubist Systematic Strategies LLC increased its position in shares of Forrester Research by 111.2% in the second quarter. Cubist Systematic Strategies LLC now owns 86,063 shares of the technology company’s stock valued at $1,470,000 after acquiring an additional 45,315 shares during the period. AXA S.A. bought a new position in shares of Forrester Research during the second quarter valued at about $803,000. Finally, Comerica Bank boosted its holdings in shares of Forrester Research by 123.3% during the first quarter. Comerica Bank now owns 11,789 shares of the technology company’s stock worth $254,000 after purchasing an additional 6,510 shares during the period. Institutional investors own 55.20% of the company’s stock.

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.