Gartner (NYSE:IT) Releases FY 2024 Earnings Guidance

Gartner (NYSE:IT - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 10.900- for the period, compared to the consensus EPS estimate of 11.380. The company issued revenue guidance of $6.2 billion-, compared to the consensus revenue estimate of $6.3 billion.

Gartner Stock Performance

Shares of NYSE:IT traded down $36.06 during trading hours on Tuesday, hitting $412.59. The stock had a trading volume of 1,343,596 shares, compared to its average volume of 401,473. The stock's fifty day simple moving average is $464.87 and its 200 day simple moving average is $439.64. Gartner has a 1-year low of $295.43 and a 1-year high of $486.54. The firm has a market capitalization of $32.17 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 4.12 and a beta of 1.29. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.91 and a current ratio of 0.91.

Gartner (NYSE:IT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The information technology services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.53 by $0.40. Gartner had a net margin of 14.94% and a return on equity of 156.35%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the business earned $2.88 earnings per share. Gartner's revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Gartner will post 11.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IT has been the topic of several analyst reports. UBS Group upgraded shares of Gartner from a neutral rating to a buy rating and raised their price target for the company from $484.00 to $550.00 in a research note on Thursday, April 11th. BMO Capital Markets raised their price objective on shares of Gartner from $444.00 to $450.00 and gave the company a market perform rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Gartner in a research note on Tuesday, April 16th. They set a hold rating and a $507.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Gartner from $421.00 to $446.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. Finally, StockNews.com lowered shares of Gartner from a buy rating to a hold rating in a research note on Saturday, February 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Gartner has an average rating of Hold and an average price target of $477.60.

Insider Buying and Selling

In related news, EVP Valentin Sribar sold 682 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total transaction of $308,946.00. Following the completion of the sale, the executive vice president now directly owns 12,269 shares in the company, valued at $5,557,857. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Valentin Sribar sold 682 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $453.00, for a total value of $308,946.00. Following the completion of the transaction, the executive vice president now owns 12,269 shares of the company's stock, valued at approximately $5,557,857. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yvonne Genovese sold 560 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $457.37, for a total transaction of $256,127.20. Following the completion of the transaction, the executive vice president now directly owns 2,398 shares of the company's stock, valued at approximately $1,096,773.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,952 shares of company stock worth $10,598,070. Corporate insiders own 3.60% of the company's stock.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.