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Forrester Research Inc

Forrester Research Inc

FORR
$10.32USD↓-1.48%-0.15 today

MARKET CAP

200.3M

P/E (TTM)

10.2x

FWD P/E

13.0x

DAY RANGE

$10 – $11

52W RANGE

$5
$12

AI Summary

Stalk
StalkMedium

FORR is in a Stage 2 advancing phase after repairing its EMA regime and clearing the rising 50-day average, marking medium-term bullish asymmetry. Short-term price is extended above rising EMAs in an extreme overbought context, deterring immediate execution. Engagement should be deferred to pullbacks into the breakout support zone around the 9/21 EMAs and rising 50 SMA, while monitoring for exhaustion. Long-term downtrend persists, requiring support validation at key moving averages.

  • ↑Client usage of Forrester AI up 55% post-launch
  • ↑Client retention at 78% and wallet retention at 89%
  • ↓Q1 revenue of $85.5M fell 5% YoY on 13% consulting drop
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The case for & against

Bull & Bear analysis

Bearish

Forrester Research, Inc. (NASDAQ: FORR) is a leading global research and advisory firm that focuses on providing insights and assistance to organizations navigating complex technological landscapes. Operating primarily in the consultancy and research sectors, Forrester helps clients understand the impact of emerging technologies, particularly artificial intelligence (AI), on business strategy and customer engagement. The company aims to enhance client interactions and foster growth by leveraging proprietary research and innovative AI solutions.

Bull says

  • ↑Client usage of Forrester AI up 55% post-launch
  • ↑Client retention at 78% and wallet retention at 89%
  • ↑Q1 free cash flow $19M; cash balance $145M vs $35M debt
  • ↑High earnings yield and favorable book-to-price suggest undervaluation
  • ↑Dividend yield ~0.65% supports steady shareholder returns
  • ↑Proprietary research moat and government contracts back growth

Bear says

  • ↓Q1 revenue of $85.5M fell 5% YoY on 13% consulting drop
  • ↓Operating loss of $0.9M highlights profitability challenges
  • ↓Negative profitability factors and small size score imply headwinds
  • ↓High short interest and negative momentum reflect market skepticism
  • ↓Government spending cuts could pressure consulting contracts in 2025
  • ↓Event bookings constrained as clients delay commitments

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-12-2026neutral

Transcript signals

Bull points

  • Client retention and wallet retention continue to improve, and the decline in CV continues to slow.
  • In addition, we generated strong free cash flow of approximately $19 million for the quarter and excluding our one-time headquarter CapEx of $5.4 million, free cash flow was approximately $25 million.
  • we continue to expect CV to be slightly up for the year, driven by the following areas: client demand for trusted advice to help them navigate their AI journey, our continued investment to enhance the capabilities of Forrester AI, and our product strategy with AI access and embedding Forrester AI in clients' existing work environments.

Bear points

  • For the total company, we generated $85.5 million in revenue compared to $89.9 million in the prior year period, which is an overall revenue decrease of 5%.
  • As we outlined on our Q4 call, we expect revenue to decline this year due to the bookings declines we experienced in 2025, the sunsetting of our strategy consulting business, and the reimagined events portfolio.
  • Our consulting business posted revenues of $18.6 million, which was down 13% compared to the prior year.
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