Forrester Research, Inc.
- Open
- 12.39
- Day high
- 12.46
- Day low
- 12.22
- Prev close
- 12.38
- Volume
- 91K
- Mkt cap
- $234M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.9
- P/S
- 0.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$199K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
Forrester Research, Inc. (FORR) is a Industrials company listed on NASDAQ. The stock is up 30% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4). Drillr has 1 published research article covering FORR.
Forrester Research, Inc. (FORR) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FORR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.27 | $0.40 | +50.9% | $100M | +3.4% |
| May 6, 2026 | $0.12 | $-0.04 | -133.3% | $85M | +2.6% |
| Feb 12, 2026 | $0.21 | $0.17 | -19.0% | $101M | +12.4% |
| Oct 30, 2025 | $0.31 | $0.37 | +19.4% | $94M | -8.7% |
| Jul 31, 2025 | $0.31 | $0.34 | +10.9% | $112M | +12.6% |
| Apr 30, 2024 | $0.22 | $0.14 | -36.4% | $100M | -3.8% |
| Feb 8, 2024 | $0.26 | $0.25 | -4.6% | $118M | +0.9% |
| Oct 26, 2023 | $0.34 | $0.44 | +27.9% | $113M | -0.5% |
| Jul 27, 2023 | $0.74 | $0.94 | +27.5% | $136M | +15.9% |
| May 4, 2023 | $0.46 | $0.27 | -41.4% | $114M | -7.0% |
| Feb 9, 2023 | $0.34 | $0.45 | +32.4% | $137M | -1.7% |
| Nov 2, 2022 | $0.39 | $0.57 | +44.7% | $128M | +0.5% |
FORR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 20, 2026 | Darrah Ryanofficer: Chief Legal Officer | Sell | 5,000 | $11.78 |
| Aug 20, 2026 | Finn Leo Christianofficer: Chief Financial Officer | Sell | 7,000 | $11.78 |
| Aug 14, 2026 | Johnson Carrieofficer: Chief Product Officer | Sell | 5,000 | $11.51 |
| Aug 4, 2026 | Facemire Michaelofficer: Chief Technology Officer | Option | 1,971 | — |
| Aug 4, 2026 | Favre Christopheofficer: Chief Sales Officer | Option | 634 | — |
| Aug 4, 2026 | Chouinard Scottofficer: Chief Accounting Officer | Option | 925 | — |
| Aug 4, 2026 | Facemire Michaelofficer: Chief Technology Officer | Tax | 1,102 | $11.50 |
| Aug 4, 2026 | Facemire Michaelofficer: Chief Technology Officer | Option | 634 | — |
| Aug 4, 2026 | Cox Andrewofficer: Chief Marketing Officer | Tax | 106 | $11.50 |
| Aug 4, 2026 | Cox Andrewofficer: Chief Marketing Officer | Option | 308 | — |
| Aug 4, 2026 | Favre Christopheofficer: Chief Sales Officer | Tax | 301 | $11.50 |
| Aug 4, 2026 | Chouinard Scottofficer: Chief Accounting Officer | Tax | 271 | $11.50 |
| Aug 4, 2026 | Facemire Michaelofficer: Chief Technology Officer | Option | 2,605 | — |
| Jun 2, 2026 | BRADFORD NEILdirector | Tax | 198 | $7.22 |
| Jun 2, 2026 | Cox Andrewofficer: Chief Marketing Officer | Option | 4,264 | — |
Source: FORR SEC Form 4 filings, latest Aug 20, 2026. For informational purposes only — not investment advice.
See the full FORR insider & 13F page →Forrester Research, Inc. company profile
Overview
Forrester Research, Inc. (NASDAQ:FORR) is an independent research and advisory services company founded in 1983 and headquartered in Cambridge, Massachusetts. The company went public in 1996 and has established itself as a leading provider of business and technology research to enterprise clients worldwide. Forrester serves business and technology leaders across various industries through its comprehensive research portfolio, consulting services, and industry events, helping organizations navigate digital transformation and customer-centric strategies.
Business
Forrester operates in the business research and advisory services industry, providing strategic guidance to enterprise clients on technology, marketing, and business transformation. The company operates through three distinct business segments that collectively serve large enterprises seeking independent research and strategic advice. The Research segment represents the core of Forrester's business, generating approximately 75-80% of total revenue. This segment delivers subscription-based research services through three primary platforms: Forrester Research, SiriusDecisions Research, and the newer Forrester Decisions platform. These services provide clients with future trend analysis, market forecasts, consumer and business buyer insights, best practice models, operational benchmarking data, and comprehensive technology vendor evaluations. The research is delivered through online platforms that allow clients to access curated content, analytical tools, and strategic frameworks designed to guide business decisions. The company has been migrating clients to its newer Forrester Decisions platform, which now hosts approximately 80% of contract value and incorporates AI-powered tools like Izola, a generative AI research assistant. The Consulting segment accounts for roughly 20-25% of revenue, providing customized advisory services and project-based consulting. This includes conducting organizational maturity assessments, developing strategic roadmaps, building business cases for technology investments, assisting with vendor selection processes, organizational restructuring, and developing content marketing strategies. The consulting services complement the research offerings by providing hands-on implementation support for the strategic insights delivered through the research platform. The Events segment represents the smallest portion of revenue at approximately 3-5%, hosting both in-person and virtual conferences focused on business-to-business marketing, sales leadership, customer experience, cybersecurity, emerging technologies, and data strategy. These events serve as both a revenue generator and a client retention tool, providing networking opportunities and deeper engagement with Forrester's research insights.
Competitive moat
Forrester's competitive moat is moderately strong but faces ongoing challenges from market dynamics and competitive pressures. The company's primary moat stems from its established brand reputation and deep analyst expertise built over four decades in the industry. Forrester has cultivated relationships with senior executives at major enterprises and developed proprietary research methodologies, including frameworks like the Forrester Wave for vendor evaluations that have become industry standards. The company benefits from high switching costs once clients integrate Forrester's research into their strategic planning processes and decision-making frameworks. The subscription-based model creates recurring revenue streams, and the comprehensive nature of Forrester's research across multiple business functions makes it difficult for clients to replace with point solutions. However, Forrester's moat faces several challenges. The research and advisory industry has become increasingly competitive with the emergence of boutique firms, specialized research providers, and technology vendors offering their own market intelligence. Large consulting firms like McKinsey, BCG, and Accenture have expanded their research capabilities, often bundling research with implementation services. Additionally, the democratization of data and analytics tools has enabled some enterprises to develop internal research capabilities, reducing dependence on external providers. The company's recent focus on AI and the development of tools like Izola represents an attempt to strengthen its moat through technology differentiation, but this advantage may prove temporary as AI capabilities become more commoditized. Forrester's success in maintaining its competitive position will largely depend on its ability to continue providing unique insights and maintaining close relationships with senior executives at target enterprises.
Risks & safety
Forrester presents a mixed margin of safety profile with both concerning and stabilizing factors. **Cash and Liquidity Position:** - Cash and short-term investments of $75.6 million as of Q1 2025 - Positive operating cash flow of $26.7 million in Q1 2025, though this was negative $3.9 million for full year 2024 - Current ratio of 0.98, indicating tight working capital management - Debt-to-equity ratio of 0.39, representing moderate leverage levels **Profitability and Valuation Concerns:** - Significant net loss of $87.3 million in Q1 2025, primarily due to restructuring and one-time charges - Negative return on equity of -59% in the most recent quarter - EV/EBITDA ratio not meaningful due to negative EBITDA in recent quarter - Price-to-book ratio of 1.18, suggesting reasonable asset valuation **Operational Stability:** - Recurring revenue model provides some predictability despite declining contract values - Management maintaining 2025 guidance suggests confidence in stabilization - Free cash flow turned positive at $26.1 million in Q1 2025 after negative performance in 2024 **Risk Factors:** - Declining contract values and revenue trends over multiple quarters - Exposure to economic cycles affecting enterprise technology spending - Ongoing platform migration costs and integration risks
Recent development
Over the past several years, Forrester has undergone significant strategic transformation centered around three key initiatives. The most substantial development has been the migration to the Forrester Decisions platform, which began in 2021 and reached approximately 80% completion by late 2024. This platform consolidates the company's research offerings and incorporates advanced AI capabilities, representing a fundamental shift in how Forrester delivers research to clients. The company has made substantial investments in artificial intelligence capabilities, most notably through the development of Izola, a proprietary generative AI tool that helps clients access and synthesize research insights. Izola has become the third most-used feature on the Forrester Decisions platform, demonstrating strong client adoption. Forrester has also expanded AI research across 14 different service areas, positioning itself as a thought leader in helping enterprises navigate AI implementation. Forrester has fundamentally restructured its go-to-market strategy by focusing on larger enterprise clients with revenues exceeding $1 billion while moving away from smaller vendors. The company has implemented new sales methodologies, including the "FAST" selling technique, and restructured its sales organization to target C-level executives more effectively. This strategic shift has involved workforce reductions and sales force optimization to improve productivity and focus on higher-value opportunities. The company has also introduced a retention lifecycle process to improve client retention rates and has been working to expand within existing large clients by moving from 1-2 buying centers to 3-4 buying centers per organization. Recent efforts have included launching new research services focused on helping companies manage economic volatility and expanding government sector opportunities, particularly in areas like AI and cybersecurity.
FORR company profile · for informational purposes only — not investment advice.
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