Key Points
He also didn't budge from his equivalent of a sell recommendation.
This was the second such move by a pundit in as many days.
Storied IT research specialist Gartner(NYSE: IT) ended the week on a down note, with its share price declining by nearly 1% on Friday. A bearish analyst note prompted investors to reconsider whether to own the stock, and more than a few sold it as they headed into the weekend.
Breaking out the scissors
That morning Wells Fargo's Jason Haas cut his price target on Gartner to $140 per share from his previous $150. He maintained his underweight (sell, in other words) recommendation as he did so.
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According to reports, Haas believes the macroeconomic volatility arising from the Iran war will impact the company's clients. In such situations, corporate customers might be inclined to reduce expenses on what some consider to be non-essential spending, such as Gartner research.
The analyst also cited a pronounced decline in contract value growth. This fell notably over the one-year stretch from the third quarter of 2024 to the same period of 2025. In the former, growth was over 7%, while in the latter it was only 3%.
Machine learning
Another source of pressure on Gartner's business is artificial intelligence (AI), which, despite its hiccups as a technology, is increasingly trusted by corporate decision-makers as an advisory tool. It seems to me Gartner will need to do an effective job convincing these folks that its human talent easily trumps any analysis a machine could provide -- and is worth regularly paying for.
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Wells Fargo is an advertising partner of Motley Fool Money. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Gartner. The Motley Fool has a disclosure policy.
