IT: Lowering CV Estimates for Gartner Following Accenture's Earnings Miss

Research evidence excerpt

IT: Lowering CV Estimates for Gartner Following Accenture's Earnings Miss

Equity Research

Price Target Change — June 24, 2026

Business & Information Services

Gartner, Inc.

Lowering CV Estimates for Gartner Following Accenture's Underweight

Earnings Miss Price Target: $120.00

Notable Changes

Our Call $ (Dec) Current Prior % Chg

We see risk skewed to the downside for Gartner's 2Q CV growth as the selling Price Target $120.00 $140.00 -14.3%

environment remains challenging, as shown from Accenture's recent earnings miss. That EPS 2026 13.93 13.80 0.9%

said, we expect no change to guidance, reflecting initial conservatism. EPS 2027 15.37 15.16 1.4%

Rev. (MM) 2026 6.46B 6.52B -0.9%

We’re modeling CV growth of +1.5% YoY in 2Q, below Street at 1.8%, reflecting an Rev. (MM) 2027 6.66B 6.74B -1.1%

estimated ~200bp (WFe) headwind from DOGE. We view Accenture’s F3Q revenue miss,

lower-than-expected F4Q guidance, and commentary around impacts to demand from Ticker IT

the Iran conflict, as negative read-through. We model ex-Fed Gov't CV growth stabilizing

Upside/(Downside) to Target (7.1)%at 3.5% in 2Q, as inflation and supply chain disruptions tied to the Iran conflict continue to

drive hesitation in client spend. Price (06/23/2026) $129.18

52 Week Range $124.25 - 409.76

We're still cautious on the magnitude of CV recovery in 2026. While CV growth should Market Cap (MM) $9,038

accelerate as Gartner laps DOGE headwinds, we continue to see risk of still-elevated Average Daily Value (MM) $209

churn in Fed Gov't. Recent geopolitical and macro uncertainty suggests the selling Dividend Yield 0.0%

environment is unlikely to return to normal in 2026. Additionally, Gartner’s internal

initiatives may take time to bear fruit.