In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Gartner (NYSE: IT), with a price target of $139. The company’s shares closed yesterday at $123.79.
Foresi wrote:
“1Q18 revenues and earnings top estimates. Total revenue was $973.2mn (+17% organic y/y) vs. our estimate of $936mn and the $930mn FactSet consensus. Research revenue was $769.9mn vs. our estimate of $741mn (+17% organic y/y). Consulting revenue was $82.9mn vs. our estimate of $82.0mn (+6% organic y/y). Events revenue was $46.1mn vs. our estimate of $44.0mn (+26% organic y/y). New Talent Assessment & Other segment revenues were $74.3mn vs. our estimate of $70.0mn (+8% organic y/y). The deferred revenue fair value assessment was $9.6mn vs. our estimate of $10.0mn. Adjusted EBITDA margin came in at 16.7%, compared to our estimate of 16.0%. Non- GAAP EPS was $0.72, vs. our estimate of $0.56 and consensus of $0.58. Performance table is on p. 2.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 16.8% and a 82.9% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Exlservice Holdings.
Gartner has an analyst consensus of Moderate Buy, with a price target consensus of $129.33.
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Gartner’s market cap is currently $11.24B and has a P/E ratio of 4126.33. The company has a Price to Book ratio of 11.43.
Based on the recent corporate insider activity of 106 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.
