Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Gartner (NYSE: IT) today and set a price target of $148. The company’s shares closed yesterday at $147.52.
Foresi said:
“. We maintain our Overweight rating on IT and our 12-month $148 PT*. Gartner turned in top line results below estimates (excluding divested operations) but bottom line results were above estimates. The company gave 4Q18 guidance. We look to the call to provide further color on the performance of the core business, the outlook of GBS contract growth, and the margin profile.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 17.8% and a 78.7% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Gartner has an analyst consensus of Strong Buy, with a price target consensus of $154.75, representing a 4.9% upside. In a report issued on October 17, BMO Capital also reiterated a Buy rating on the stock with a $174 price target.
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Based on Gartner’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $46.27 million. In comparison, last year the company had a GAAP net loss of $48.18 million.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock.
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Gartner, Inc. is a research and advisory company, which delivers technology-related insights to its clients to make right decisions. It operates through the following segments: Research; Consulting; Events; and Talent Assessment and Other. The Research segment gives advices on the mission-critical priorities of leaders.
