William Blair analyst Andrew Nicholas has maintained their neutral stance on FORR stock, giving a Hold rating on August 2.
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Andrew Nicholas has given his Hold rating due to a combination of factors impacting Forrester Research’s performance. The company’s second-quarter revenue fell short of expectations, primarily due to underperformance in their events segment, despite consulting performing slightly better than anticipated. This revenue miss, coupled with higher-than-expected expenses, resulted in a lower adjusted operating margin and earnings per share than projected.
Despite some positive signs, such as improved client retention and a growing sales pipeline, challenges remain. The decline in client count and wallet retention, alongside ongoing geopolitical and tariff uncertainties, continue to pose risks. While there are areas of momentum, particularly in government contracts, these are offset by anticipated headwinds in consulting due to U.S. federal government cost cuts. These mixed signals contribute to the Hold rating, as the company navigates both opportunities and challenges in the current environment.
In another report released on August 2, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $11.00 price target.