Gartner downgraded to 'Sell' following contract cancellations

Gartner, a technology research company, has changed its rating for its stock from 'Buy' to 'Sell.' This decision comes after recent news about cuts in government IT spending. On March 20, U.S. Defense Secretary Pete Hegseth canceled several contracts that were expected to benefit Gartner. This cancellation raises concerns over the company's future earnings. Investors are worried that reduced IT spending by the government could negatively impact Gartner’s business. Gartner previously had a strong outlook, with good growth in contract values. However, the recent changes in government funding have prompted analysts to reassess the company's potential. Moving forward, it is unclear how these changes will affect Gartner's stock price and overall performance. Investors are advised to keep a close watch on the situation.