Gartner Inc. IT is scheduled to release its third-quarter 2024 results on Nov. 5, before market open.
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IT has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in the four trailing quarters, with an average surprise of 17.4%.
Gartner, Inc. Price and EPS Surprise
Gartner, Inc. price-eps-surprise | Gartner, Inc. Quote
Gartner’s Q3 Expectations
The Zacks Consensus Estimate for the top line is pegged at $1.5 billion, suggesting a 4.6% rise from the year-ago quarter’s actual. The company’s revenues are likely to have gained from the client value proposition and addressable market opportunities.
Research revenues are expected to have been driven by new business growth across Global Business Sales and a rise in contract value with Global Technology Sales enterprise function leaders. Gartner Conferences deliver extraordinarily valuable insights to an engaged and qualified audience. The company is likely to have benefited from the launch of a few conferences. We expect consulting revenues to have gained from the rising demand for labor-based services, continued booking strength and contract optimization.
The consensus estimate for earnings per share is pegged at $2.5, suggesting a year-over-year decline of 4.3%.
What Our Model Says About IT
Our model predicts an earnings beat for IT this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Gartner has an Earnings ESP of +10.44% and a Zacks Rank of 2.
Other Stocks to Consider
Here are a few other stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.
BlackSky Technology BKSY: The Zacks Consensus Estimate for the company’s third-quarter 2024 revenues is pegged at 107.7 million, indicating year-over-year growth of 14%. The consensus estimate for loss per share is pegged at $2.3 compared with a loss of $3.9 per share incurred in third-quarter 2023. The company beat the consensus estimate in two of the past four quarters, missed in one and met in one instance, with an average surprise of 10.1%.
BKSY has an Earnings ESP of +29.51% and currently flaunts a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to declare its third-quarter 2024 results on Nov. 7.
Cantaloupe CTLP: The Zacks Consensus Estimate for the company’s first-quarter fiscal 2025 revenues is pegged at $311.8 million, indicating year-over-year growth of 16.1%. For earnings, the consensus mark is pegged at 31 cents, suggesting a rise of more than 100% from the year-ago quarter’s reported figure. The company beat the consensus estimate in three of the past four quarters and missed once, with an average surprise of 45%.
CTLP carries an Earnings ESP of +25.00% and a Zacks Rank of 2 at present. The company is scheduled to declare its first-quarter fiscal 2025 results on Nov. 7.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Gartner, Inc. (IT) : Free Stock Analysis Report
Cantaloupe, Inc. (CTLP) : Free Stock Analysis Report
BlackSky Technology Inc. (BKSY) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
