Gartner (IT) Stock Rises 34% in a Year: What Should You Know?

Zacks Equity Research

25 June 2024 at 10:50 am·3-min read

Gartner IT had an impressive run over the past year. The stock has gained 33.9% compared with the 8.6% rally of the industry it belongs to and the 26.4% rise of the Zacks S&P 500 composite.

WCN has an expected long-term (three to five years) EPS growth rate of 9.9%. The company’s revenues for 2024 and 2025 are expected to increase 5.4% and 8.8%, respectively, year over year.Its earnings for 2024 and 2025 are anticipated to grow 1.9% and 11%, respectively.

Gartner, Inc. Revenue (TTM)

Gartner, Inc. revenue-ttm | Gartner, Inc. Quote

Reasons for the Upside

Gartner’s earnings surpassed the Zacks Consensus Estimate in the trailing four quarters, delivering an average earnings surprise of 19.5%.

Over the years, the company’s research reports have become vital for diverse companies across different sectors, strengthening its leading position in the market. Gartner draws on unique data assets and deep domain expertise to provide key insights using advanced technologies and provides decision support solutions. These insights are typically drawn from a critical fact base, collated from interactions with clients in more than 15,000 distinct organizations worldwide.

IT's market strength is reinforced by the CEB acquisition. The company’s analyst-driven, syndicated research and advisory services, coupled with CEB’s best practice and talent management data across a range of business functions, are anticipated to provide a comprehensive and differentiated suite of services portfolio globally.

Gartner has a large and diverse addressable market with low customer concentration that reduces operating risks. The company has an integrated research and consulting team designed to best serve the requirements of its clients operating in an industry with low barriers. This allows it to have a competitive advantage against its rivals. Leveraging its intellectual capital, the company creates and distributes proprietary research content as broadly as possible via published reports, interactive tools, and many more. This allows a steadily improving stream of revenues for the company.

In 2023, 2022, and 2021, Gartner repurchased 3.9 million, 3.8 million, and 7.3 million shares for $600 million, $1 billion and $1.7 billion, respectively. Such moves indicate the company's commitment to creating value for shareholders and underline its business confidence. Also, these moves help instill investors' confidence in the stock and positively impact the bottom line.

Zacks Rank & Stocks to Consider

IT currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are Booz Aptiv APTV and AppLovin APP.

Aptiv flaunts a Zacks Rank #1 (Strong Buy) at present. It has a long-term earnings growth expectation of 20.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

APTV delivered a trailing four-quarter earnings surprise of 12.2%, on average.

AppLovin is currently a Zacks #1 Ranked stock. It has a long-term earnings growth expectation of 20%.

APP delivered a trailing four-quarter earnings surprise of 60.9% on average.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Gartner, Inc. (IT) : Free Stock Analysis Report

AppLovin Corporation (APP) : Free Stock Analysis Report

Aptiv PLC (APTV) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Simply Wall St.
Three SGX Stocks Estimated To Trade At Discounts Between 42.5% And 45.3%
As the global financial landscape evolves, Singapore's market is uniquely positioned to capitalize on emerging trends such as the tokenisation of trade finance assets. This shift towards digital assets highlights a broader transformation in investment opportunities and market dynamics. In this context, identifying stocks that are potentially undervalued becomes crucial, as they may offer significant growth potential amidst these transformative economic conditions.
The Smart Investor
4 Singapore Stocks Paying Out Dividends in July
We feature four Singapore stocks that are doling out dividends in July. The post 4 Singapore Stocks Paying Out Dividends in July appeared first on The Smart Investor.
The Smart Investor
3 Singapore REITs That Announced Divestments Recently: Should Income Investors Pay Attention?
We profile three Singapore REITs that sold properties recently and assess how such moves will impact the REIT’s asset base and distribution per unit. The post 3 Singapore REITs That Announced Divestments Recently: Should Income Investors Pay Attention? appeared first on The Smart Investor.
The Telegraph
Investors have no idea how exposed they are to the next market crash
Before we read too much into Nvidia’s £400bn share price slide, let’s put it in context.
Simply Wall St.
Unveiling 3 SGX Dividend Stocks With Yields Ranging From 6% To 9%
As the Singapore market navigates the burgeoning field of tokenised real-world assets, with projections pointing to significant growth in trade finance assets, investors are keenly observing opportunities that align with these evolving trends. In this dynamic environment, dividend stocks that offer stability and consistent returns are particularly appealing, providing a contrast to the nascent and rapidly evolving sector of tokenised assets.
The Edge Singapore
Prudential Singapore to get new CEO in September
Chan San San is appointed CEO of Prudential SIngapore, reporting to Dennis Tan, MD of Strategic Business Group, a regional role
Yahoo Finance
New inflation reading offers hope for Fed rate cuts later this year
The Fed got another positive signal that inflation is easing after running hotter-than-expected in the first quarter, but the central bank still likely needs more time before cuts can begin in 2024.
Simply Wall St.
Multi-Chem And Two Other Leading Dividend Stocks On SGX
As digital solutions like Visa's new emergency card service reshape financial interactions globally, the Singapore market is also experiencing shifts that reflect broader technological advancements and consumer behavior changes. In this dynamic environment, dividend stocks such as Multi-Chem offer investors potential stability and regular income, qualities that are increasingly valuable in rapidly evolving markets.
Barrons.com
Fed Officials See 3 Possible Paths for Rates
Faced with uncertainty, Fed officials are offering various scenarios for the economy and interest rates.
Yahoo Finance
Stock market today: Stocks inch higher with key inflation print looming
A sell-off in Micron put a dent in the AI bullishness that has fueled the tech-driven rally, as investors eye fresh economic data.
Reuters
Micron Tech beats revenue estimates on AI chip demand; shares fall after run-up
(Reuters) -Micron Technology beat estimates for third-quarter revenue on Wednesday driven by strong demand for its memory chips, but its current-quarter forecast disappointed investors who were upbeat about the chipmaker's performance in the AI boom. The stock had risen 13% this month, ahead of earnings, on investor optimism that Micron would benefit from AI-driven demand. "Micron's largely inline forecast may have been good enough two or three months ago, but is not enough to meet current lofty hopes, especially after a 67% year-to-date rally in its share price," said Michael Schulman, chief investment officer at Running Point Capital.
Reuters
UBS shakes up flagship wealth business with new unit, memo says
ZURICH (Reuters) -UBS is shaking up its wealth-management arm, the bank's flagship business, to boost its offerings to ultra-rich clients, the division's new co-leaders said in their first internal memo sent on Thursday and seen by Reuters. UBS will create a new unit from July 1, named GWM Solutions, to integrate various client offerings, such as investment management, lending, family and institutional wealth management and alternative investments, the memo from Rob Karofsky and Iqbal Khan said. The unit will be led by former Credit Suisse banker Yves-Alain Sommerhalder who will be based in Zurich and New York and report to Karofsky and Khan.
Simply Wall St.
Unveiling Three Stocks That May Be Trading Below Their Estimated Intrinsic Value
As global markets demonstrate resilience, with the S&P 500 reaching new highs and value stocks showing strength, investors may find opportunities in stocks that appear undervalued relative to their intrinsic worth. In this context, identifying stocks trading below their estimated intrinsic value could be particularly timely, offering potential for appreciation as market conditions evolve.
Investing.com
Asian stocks fall as Micron sparks tech losses, China data weighs
Investing.com-- Most Asian stocks fell on Thursday as technology shares tracked weakness in their U.S. peers following underwhelming guidance from chipmaking major Micron.
AFP News
Inflation data cheers Wall Street, French stocks slump
Wall Street stocks climbed Friday after data showing cooling US inflation raised hopes of an interest-rate cut, while French equities slid before a weekend election that could see strong gains for the far right.Wall Street stocks advanced, the Dow adding 0.2 percent.
Benzinga
What's Going On With Nvidia Stock On Thursday?
Nvidia Corp (NASDAQ:NVDA) shares are trading lower Thursday in sympathy with Micron Technology Inc (NASDAQ:MU) after the company reported third-quarter financial results and issued guidance on Wednesday. Nvidia’s shareholders have approved all resolutions, including the compensation packages for CEO Jensen Huang. Huang’s compensation package for the 2024 fiscal year was approximately $34 million, marking a 60% increase from the previous year, CNBC reports. Also Read: For Every $1 Spent On Nvidia
Deadline
Michael Jackson Was More Than $500M In Debt When He Died
When Michael Jackson died on June 25, 2009, he was more than $500 million in debt, according to court documents filed last week in Los Angeles. Jackson died at 50 while preparing for his extended “This Is It” residency at the 02 Arena in London, which was scheduled to run from July 2009 to March …
Simply Wall St.
One Citigroup Insider Has Reduced Their Stake
From what we can see, insiders were net sellers in Citigroup Inc.'s ( NYSE:C ) during the past 12 months. That is...
Yahoo Finance
Stock market today: Stocks little changed as key Fed-watched inflation data keeps cooling
Investors are watching for a cooling in the Fed-favored PCE print to boost rate-cut hopes as they assess Biden's faltering performance in the Trump debate.
MoneySmart
Why Every Singaporean Needs an Emergency Fund—And How You Can Build Yours
Almost every financial advisor you meet will ask if you have an emergency fund in place. You know what the unfortunate thing is? Too many Singaporeans don’t have one! If... The post Why Every Singaporean Needs an Emergency Fund—And How You Can Build Yours appeared first on MoneySmart Blog.

Straits Times Index

Nikkei

Hang Seng

FTSE 100

Bitcoin USD

CMC Crypto 200

S&P 500

Dow

Nasdaq

Gold

Crude Oil

10-Yr Bond

FTSE Bursa Malaysia

Jakarta Composite Index

PSE Index

Gartner, Inc. Revenue (TTM)

Reasons for the Upside

Zacks Rank & Stocks to Consider

Latest stories