Gartner Gets a Buy Rating from BMO Capital

By Carrie Williams

BMO Capital analyst Jeffrey Silber reiterated a Buy rating on Gartner (NYSE: IT) today and set a price target of $137. The company’s shares closed yesterday at $123.58, close to its 52-week high of $130.02.

According to TipRanks.com, Silber is a top 100 analyst with an average return of 20.7% and a 73.5% success rate. Silber covers the Services sector, focusing on stocks such as AMN Healthcare Services Inc, Apollo Education Group Inc, and American Public Education.

Currently, the analyst consensus on Gartner is Strong Buy and the average price target is $132.67, representing a 7.4% upside.

In a report issued on October 3, Cantor Fitzgerald also maintained a Buy rating on the stock with a $139 price target.

Based on Gartner’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $844 million and GAAP net loss of $92.28 million. In comparison, last year the company earned revenue of $574 million and had a net profit of $30.48 million.

Based on the recent corporate insider activity of 105 insiders, corporate insider sentiment is negative on the stock.

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Gartner, Inc. is an information technology research and advisory company, which delivers technology-related insights to its clients to make right decisions. It operates through the following segments: Research, Consulting, and Events.