Maxim Group Believes Forrester Research (FORR) Still Has Room to Grow


Maxim Group analyst Allen Klee reiterated a Buy rating on Forrester Research (FORR) yesterday and set a price target of $62. The company’s shares closed yesterday at $49.97, close to its 52-week high of $51.17.

Klee noted:

“In 1Q19 results due Tuesday, 4/30 post-close, we project revenue of $97.5M, up 25.4% y/y, an EBITDA loss of ($7.3M) and non-GAAP loss per share of ($0.04).”

According to TipRanks.com, Klee has 0 stars on 0-5 star ranking scale with an average return of -12.4% and a 36.8% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International, Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Forrester Research with a $62 average price target.

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Forrester Research’s market cap is currently $915.5M and has a P/E ratio of 59.81. The company has a Price to Book ratio of 6.04.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock.

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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.

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