Forrester Research, Inc. (FORR)
NASDAQIndustrialsConsulting ServicesSnapshot 2026-09-04
$12.65+1.36%
Close 2026-09-04 · 1-day change
NASDAQIndustrialsConsulting ServicesSnapshot 2026-09-04
Warn: Primary pillar under pressure — Improve operating margin to -3.3% to -2.8% in 2026: FY26 guidance -3.5% to -3.0% vs target -3.3% to -2.8%.
Forrester aims to grow revenue to about $355 million in 2026. It plans to improve its operating margin to near -3%. The company is cutting costs by reducing its workforce by 8%. These steps could help it return to profitability.
Forrester is still loss-making with negative margins. Revenue growth is weak and below past targets. Recent earnings misses and workforce cuts show ongoing struggles.
The market expects about 6% revenue decline next year. Our fair value is near $25, reflecting a turnaround but with risks. We see potential if Forrester meets its revenue and margin targets.
Breaks if: Operating margin worse than -3.3% in FY26
Target operating margin improvement to approximately negative 3.5% to negative 3.0% for full-year 2026 on a GAAP basis.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story in a challenging environment. The current thesis state reflects mixed signals from management and recent financial results, indicating a cautious stance as the company navigates its path forward.
The market seems to have priced in a low expectations gap, suggesting that investors are not overly optimistic about FORR's near-term performance. Valuation is relatively cheap compared to peers, but the company remains loss-making, which adds to the cautious sentiment.
Fundamentals are likely to remain under pressure in the near term, given the company's weak financial performance and the high risk associated with its operations. Management's guidance for revenue and operating margin improvement indicates a mixed trajectory, as they aim for stabilization amidst ongoing challenges.
The most important moves since the prior daily snapshot.
Mixed, the news cuts both ways. The latest earnings beat supports the revenue outlook for 2026. However, concerns about achieving the revenue target persist, which weakens the overall read.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 2 of last 2 quarters. GAAP operating income was $3.4M in 2026-Q2 and negative $18.6M in 2026-Q1, with full-year 2026 guidance targeting operating margin between negative 3.5% and negative 3.0%. The trajectory shows improvement from prior year losses but remains negative, consistent with management's stated target.
“Operating margin of approximately negative 3.5% to negative 3.0% for full-year 2026.”
“Operating margin of approximately negative 3.3% to negative 2.8% for full-year 2026.”
Breaks if: Revenue falls below $350M in FY26
Maintain total revenues in the range of $350 million to $360 million for full-year 2026 despite expected decline versus prior year.
Stated as a priority in 2 of last 2 quarters. Revenue was $85.5M in 2026-Q1 and $100.2M in 2026-Q2, totaling $185.7M for first half 2026, compared with $201.5M in first half 2025. Management maintains full-year 2026 revenue guidance of $350M to $360M, reflecting a decline versus prior year. The trajectory is mixed with revenue down year-over-year but guidance stable.
“Forrester is providing guidance for 2026 as follows: Total revenues of approximately $350.0 million to $360.0 million.”
“Forrester is providing guidance for 2026 as follows: Total revenues of approximately $350.0 million to $360.0 million.”
Breaks if: Workforce reduction less than 8% or reversed
The long-term thesis hinges on management's ability to execute on their priorities, particularly in achieving revenue targets and improving margins. Additionally, the performance of sector bellwethers will be crucial; if they continue to perform well, it could provide a favorable backdrop for FORR.
In the next 1 to 3 years, FORR's outlook will depend on its execution against management's goals and external market conditions. Not investment advice.