Is Forrester's New Research Platform Facing Headwinds? An Analyst's Perspective On Q2 Revenue And Sales Force Improvement
Portfolio Pulse from Shivani Kumaresan
Barrington Research analyst has reiterated an Outperform rating on Forrester Research Inc (NASDAQ:FORR) with a price target of $32. The analyst expects Forrester to report 2Q23 non-GAAP EPS of $0.61, a 61% Y/Y decline, and less than the FactSet consensus forecast of $0.73. The analyst also expects Forrester to report 2Q23 adjusted EBITDA of $19.1 million and revenue of $126.4 million, both less than the FactSet consensus forecast. The company's weak research subscription bookings in 1Q were due to economic headwinds, client losses, and longer sales cycles for Forrester Decisions, the company’s new research platform.
July 17, 2023 | 5:53 pm
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Forrester Research Inc's 2Q23 earnings are expected to be lower than the FactSet consensus forecast due to economic headwinds, client losses, and longer sales cycles for its new research platform, Forrester Decisions. The company's shares are currently trading higher by 0.19% at $32.18.
The analyst from Barrington Research expects Forrester's 2Q23 earnings to be lower than the FactSet consensus forecast due to economic headwinds, client losses, and longer sales cycles for its new research platform. This negative outlook could potentially impact the company's stock price in the short term. However, despite this, the company's shares are currently trading higher.
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