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.
On the date of publication, Kritika Sarmah 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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