Why Gartner Stock Skyrocketed This Week
Gartner's latest quarterly report has investors reassessing the stock.
Overview
Gartner (NYSE: IT) stock surged this week after the information services specialist reported better-than-expected quarterly results. The company's share price climbed 22.9% in the week amid the backdrop of a 3.6% gain for the S&P 500 and a 5.2% gain for the Nasdaq Composite.
Gartner's valuation has been under pressure over the last year due to concerns that artificial intelligence (AI) will disrupt its business, but the company's second-quarter results were better than anticipated. The company also raised its full-year guidance and continued to expand its share buyback program.
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Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.