Top-ranked tech market information supplier Gartner is putting up some very healthy numbers. Its EPS growth ranged from 19% to 27% over the past four quarters, and sales growth kept pace. On Friday, Gartner stock got an upgrade for its Relative Strength (RS) Rating, which rose from 78 to 81, putting it into a top echelon group.
The 81 Relative Strength Rating shows that Gartner is in the top 19% of all stocks for price performance the past 12 months. Market research shows that the best-performing stocks tend to have an RS Rating of at least 80 in the early stages of their moves.
Gartner provides information technology market research and advisory services to companies in 70 countries. Earlier this month the company projected $3.68 per-share earnings this year on $1.41 billion revenue.
Gartner Stock Ratings Shine
Gartner also has a terrific 97 Earnings Per Share Rating out of 99. Its Composite Rating is 92, putting Gartner stock in the top 8% of stocks for a group of five technical and fundamental metrics. Its SMR Rating (sales + profit margins + return on equity) is a healthy A on an A-to-E scale with A tops. Additionally, it sports a B- Accumulation/Distribution Rating, showing that big money investors such as ETFs and mutual funds are fairly heavy buyers of its stock.
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Gartner stock dropped to a 221.39 low on June 16, 2022, as it built a long cup base. It began rising and traded above 333 Friday afternoon. It was on its way to a possible dazzling 11th straight higher close though it reversed lower in afternoon trading. The tech market data provider's stock is building a consolidation with a 358.35 entry. See if it can break out in volume at least 40% above average.
Double-Digit Sales, Earnings Growth This Past Year
Gartner reported 24% earnings growth for its most recent quarter, to $2.88 per share. The prior three quarters its EPS rose 27%, 19% and 24%. Sales rose 12% to $1.41 billion last quarter.
Gartner stock earns the No. 1 rank among its peers in the Commercial Services-Market Research industry group. Thomson Reuters and Verisk Analytics are also in the top five of the group.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
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