Barclays Believes Gartner (NYSE: IT) Won’t Stop Here

By Ryan Adsit

In a report issued on August 10, Manav Patnaik from Barclays maintained a Buy rating on Gartner (NYSE: IT), with a price target of $155. The company’s shares closed on Friday at $140.32, close to its 52-week high of $142.16.

According to TipRanks.com, Patnaik is a 5-star analyst with an average return of 13.3% and a 71.4% success rate. Patnaik covers the Services sector, focusing on stocks such as Emerald Expositions Events Inc, Laureate Education Inc, and Dun & Bradstreet Corp.

Currently, the analyst consensus on Gartner is a Strong Buy with an average price target of $144.20, which is a 2.8% upside from current levels. In a report issued on August 1, Cantor Fitzgerald also maintained a Buy rating on the stock with a $148 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 $92.28 million.

Based on the recent corporate insider activity of 104 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.