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Gartner, Inc. (IT), headquartered in Stamford, Connecticut, is a leading global research and advisory company providing comprehensive insights, advice, and tools for business leaders across various sectors. With a market cap of $39.63 billion, Gartner competes with firms like Forrester Research, Inc. (FORR) by focusing on data-driven analysis, client-focused strategies, and expert advice and research services to help clients make informed decisions and drive successful business outcomes.
Companies valued at $10 billion or more are classified as "large-cap" stocks, and Gartner exemplifies this designation, highlighting its significant scale, stability, and influence in the global research and advisory industry. As a leading provider of business insights and advisory services, Gartner's large-cap status reflects its robust international presence, strong market leadership, and dedication to offering data-driven solutions that empower organizations to make informed decisions and achieve business success.
IT shares are trading marginally below their 52-week high of $510.98, which they hit on Sep. 13. However, the stock has gained 18% over the past three months versus the Vanguard Information Technology Index Fund ETF’s (VGT) 1.4% decline over the same time frame.
In the longer term, IT is up 13.2% on a YTD basis, and the shares have gained 44.6% over the past 52 weeks. The VGT has gained 17.6% in 2024 and 32% over the past year.
To confirm the bullish price action, IT has been trading above its 50-day moving average since mid-June and its 200-day moving average since early June.
Shares of Gartner jumped 5.9% after the release of its strong Q2 earnings on Jul. 30. The company's revenue grew 6.1% year over year to $1.6 billion, exceeding Wall Street’s expectation. Its net income saw a year-over-year surge of 15.9% to $229.5 million.
Highlighting the contrast in performance, rival FORR has underperformed both IT and the border sector, with a 28.7% gain on a YTD basis.
Given IT's recent outperformance compared to the VGT, analysts are moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy" from 10 analysts in coverage. The mean price target is $512.90, reflecting a marginal premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
