A strong earnings report has Gartner ($IT) headed towards the top of its recent range. Since November 2014, price range has mostly been between the 80-90 level, averaging 85.77. The typical momentum breakout is probably not in the cards for Gartner, as advisory services isn't a sexy industry, but it wouldn't be a surprise to see a move towards 100 over the next few weeks.
Earnings report was solid. Beat on top and bottom line numbers, reported above average industry revenue growth. EPS up 18.2% over same period last year. IT consulting will remain an area business will be forced to spend on as it is too costly to implement technology incompatible with legacy systems or be slow to implement new technologies. Enterprise customers will continue to pay for the quality services provided by Gartner.
Prior high: 94.82
Prior closing high: 91.44
A close over 91.44 is good, a close over 94.82 is great. #GetLong
Earnings report was solid. Beat on top and bottom line numbers, reported above average industry revenue growth. EPS up 18.2% over same period last year. IT consulting will remain an area business will be forced to spend on as it is too costly to implement technology incompatible with legacy systems or be slow to implement new technologies. Enterprise customers will continue to pay for the quality services provided by Gartner.
Prior high: 94.82
Prior closing high: 91.44
A close over 91.44 is good, a close over 94.82 is great. #GetLong