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With a market cap of $35.5 billion, Gartner, Inc. (IT) operates as a research and advisory company in the United States and globally. Founded in 1979, the Stamford, Connecticut-based company operates through three segments: Research, Conferences, and Consulting.
Companies valued at more than $10 billion or more are generally considered “large-cap stocks”, and IT fits this criterion perfectly.
IT stock has faced some struggles over the past year and has fallen 23.3% from its 52-week high of $584.01, recorded on Feb. 4. Moreover, the stock has declined 7.1% over the past three months, outperforming the broader Nasdaq Composite’s ($NASX) fall of 9.7% over the same time frame.
Over the past six months, shares of IT declined 11.6% while NASX declined marginally. Moreover, IT has declined 5.7% over the past 52 weeks, lagging behind NASX's 8.7% return.
IT stock has dipped below its 200-day moving average since early March and has been hovering under its 50-day moving average since late February, indicating a bearish trend.
Gartner stock declined marginally following its Q4 earnings release on Feb. 2. The company reported an 8% increase in its revenue, which amounted to $1.7 billion. It also reported a free cash flow of $1.4 billion for the full fiscal year and expects double-digit growth for 2025. Moreover, its EPS came in at $5.45, surpassing the Wall Street estimates by 69.3%.
Its rival, Cognizant Technology Solutions Corporation (CTSH), is in the lead, with its stock surging 5.6% over the past six months and 6% over the past 52 weeks.
Analysts are moderately optimistic about the stock's prospects. The stock has a consensus rating of “Moderate Buy” from the 10 analysts covering it, and the mean price target of $572 represents an upside of 27.7% from the current market prices.
