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Shares of Gartner Inc. (IT - Free Report) scaled a 52-week high of $242.57 in the trading session on Jun 25, before closing a tad lower at $241.95.
The company’s shares have charted a solid trajectory, appreciating 51% year to date, compared with 14.7% growth of the industry it belongs to and 14.7% rise of the Zacks S&P 500 composite.
Image Source: Zacks Investment Research
Notably, Gartner has witnessed a 7.3% increase in its share price since it posted first-quarter 2021 results.
Let’s find out what’s supporting the uptick.
Upbeat 2021 Guidance
Gartner raised its full-year 2021 guidance. The company now expects total revenues to be $4.51 billion compared with the prior guidance of $4.37 billion. The current Zacks Consensus Estimate of $4.50 billion lies below the updated guidance.
Adjusted EPS is now anticipated to be $6.25 compared with the prior guidance of $4.10. The current Zacks Consensus Estimate of $6.45 lies above the updated guidance.
Adjusted EBITDA is now projected to be $1 billion compared with the prior guidance of $760 million. Free cash flow is now anticipated to be $850 million compared with the prior guidance of $630 million.
Consecutive Earnings & Revenue Beat
Gartner came up with better-than-expected earnings and revenue performance in the past four quarters. The company’s bottom line continued to benefit from improvement in operational efficiency. Strength across the Research segment boosted the top line.
Diverse Addressable Market
Gartner has a large and diverse addressable market with low customer concentration, which helps in mitigating operating risks. Operating in an industry with low barriers to entry, Gartner has an integrated research and consulting team designed to best serve clients’ needs. This enables it to have a competitive advantage over its rivals. Leveraging the breadth and depth of its intellectual capital, Gartner creates and distributes proprietary research content as broadly as possible via published reports, interactive tools, facilitated peer networking, briefings, consulting and advisory services, and events. These make way for a steadily improving revenue stream for the company.
Long-term (three to five years) expected earnings per share growth rate for Interpublic, Charles River and TransUnion is projected at 10.2%, 15.5%, and 20.9%, respectively.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
Gartner (IT) Stock Hits 52-Week High: What's Driving It?
Shares of Gartner Inc. (IT - Free Report) scaled a 52-week high of $242.57 in the trading session on Jun 25, before closing a tad lower at $241.95.
The company’s shares have charted a solid trajectory, appreciating 51% year to date, compared with 14.7% growth of the industry it belongs to and 14.7% rise of the Zacks S&P 500 composite.
Notably, Gartner has witnessed a 7.3% increase in its share price since it posted first-quarter 2021 results.
Let’s find out what’s supporting the uptick.
Upbeat 2021 Guidance
Gartner raised its full-year 2021 guidance. The company now expects total revenues to be $4.51 billion compared with the prior guidance of $4.37 billion. The current Zacks Consensus Estimate of $4.50 billion lies below the updated guidance.
Adjusted EPS is now anticipated to be $6.25 compared with the prior guidance of $4.10. The current Zacks Consensus Estimate of $6.45 lies above the updated guidance.
Adjusted EBITDA is now projected to be $1 billion compared with the prior guidance of $760 million. Free cash flow is now anticipated to be $850 million compared with the prior guidance of $630 million.
Consecutive Earnings & Revenue Beat
Gartner came up with better-than-expected earnings and revenue performance in the past four quarters. The company’s bottom line continued to benefit from improvement in operational efficiency. Strength across the Research segment boosted the top line.
Diverse Addressable Market
Gartner has a large and diverse addressable market with low customer concentration, which helps in mitigating operating risks. Operating in an industry with low barriers to entry, Gartner has an integrated research and consulting team designed to best serve clients’ needs. This enables it to have a competitive advantage over its rivals. Leveraging the breadth and depth of its intellectual capital, Gartner creates and distributes proprietary research content as broadly as possible via published reports, interactive tools, facilitated peer networking, briefings, consulting and advisory services, and events. These make way for a steadily improving revenue stream for the company.
Zacks Rank and Other Stocks to Consider
Gartner currently carries a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
Some other top-ranked stocks in the broader Zacks Business Services sector include Interpublic (IPG - Free Report) , Charles River (CRAI - Free Report) and TransUnion (TRU - Free Report) , each carrying a Zacks Rank #2 (Buy).
Long-term (three to five years) expected earnings per share growth rate for Interpublic, Charles River and TransUnion is projected at 10.2%, 15.5%, and 20.9%, respectively.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>