International Business Machines (NYSE:IBM) PT Raised to $250.00 at The Goldman Sachs Group

International Business Machines (NYSE:IBM) had its price target increased by investment analysts at The Goldman Sachs Group from $220.00 to $250.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 13.20% from the company’s current price.

A number of other analysts also recently commented on the company. Royal Bank of Canada upped their target price on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price target on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI upped their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group upped their price target on International Business Machines from $190.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has a consensus rating of “Hold” and an average target price of $191.93.

International Business Machines Price Performance

Shares of IBM opened at $220.84 on Monday. The firm has a market capitalization of $202.86 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 4.90 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 company’s fifty day moving average price is $200.17 and its 200-day moving average price is $185.15. International Business Machines has a 1-year low of $135.87 and a 1-year high of $224.15.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the company earned $2.18 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts predict that International Business Machines will post 10.1 EPS for the current year.

Institutional Trading of International Business Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the 1st quarter valued at about $26,000. ESL Trust Services LLC purchased a new position in International Business Machines in the first quarter valued at $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines in the fourth quarter valued at $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines during the 4th quarter worth about $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in shares of International Business Machines during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.