Forrester Research Inc Dossier
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SectorInformation Technology IndustryIT Consulting & Other Services Beta (adjusted)0.96 Intrinsic Value Insufficient data for a value estimateNot enough reliable inputs to publish a fair value for this company yet. Market Price $11.61Price as of 1 Oct 2026 Data confidenceNot applicable Market Cap $221M Enterprise Value $196.5M Shares Outstanding 19.3M diluted Moat Rating None Next Earnings Date29 Oct 2026 Last ex-dividend11 Dec 2018 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Forrester Research is navigating a complex transition period characterized by a strategic exit from its strategy consulting business and a heavy focus on integrating generative AI capabilities (such as Forrester AI Access) to drive contract value (CV) growth. While Q1 2026 revenue exceeded expectations, profitability remains under pressure due to restructuring costs and non-cash goodwill impairment charges. The company's high cash balance provides financial stability, but near-term top-line contraction warrants a cautious stance. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$12.00 Mean target$12.00 High · most bullish analyst$12.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 19 Jun 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $4.8015% Enterprise budget caution persists, leading to further declines in contract value and client retention. The exit from strategy consulting causes larger-than-expected revenue leakage, and additional goodwill impairment charges continue to depress GAAP earnings. Base CaseCentral scenario $7.5060% Forrester achieves its guided full-year 2026 GAAP revenue of $350.0 million to $360.0 million, representing a moderate decline as it exits strategy consulting. Adjusted operating margins stabilize between 6.0% and 6.5%, and adjusted diluted EPS lands within the guided range of $0.72 to $0.82. Bull CaseUpside scenario $11.5025% Successful migration of clients to Forrester Decisions and rapid adoption of Forrester AI Access drive a faster-than-expected turnaround in contract value (CV) growth. Margin expansion is accelerated by cost-efficiency gains from the recent restructuring, leading to a re-rating of the stock. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
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All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |