International Business Machines (NYSE:IBM) Price Target Raised to $260.00

International Business Machines (NYSE:IBM) had its target price upped by research analysts at BMO Capital Markets from $235.00 to $260.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective points to a potential upside of 21.17% from the company’s current price.

A number of other equities analysts have also recently commented on IBM. Morgan Stanley increased their target price on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bernstein Bank lifted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. UBS Group increased their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group upped their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $208.12.

International Business Machines Stock Down 1.7 %

International Business Machines stock opened at $214.57 on Thursday. International Business Machines has a 12 month low of $141.58 and a 12 month high of $237.37. The stock has a market capitalization of $197.65 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 4.84 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business has a 50 day simple moving average of $215.16 and a 200-day simple moving average of $190.25.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same period last year, the firm posted $2.20 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, analysts anticipate that International Business Machines will post 10.13 EPS for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. purchased a new position in International Business Machines in the first quarter valued at $26,000. ESL Trust Services LLC acquired a new stake in International Business Machines in the first quarter valued at approximately $28,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Business Machines in the second quarter worth approximately $36,000. Wolff Wiese Magana LLC increased its position in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. Finally, Briaud Financial Planning Inc raised its holdings in shares of International Business Machines by 54.3% in the 2nd quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.