Bank of America Raises International Business Machines (NYSE:IBM) Price Target to $250.00

International Business Machines (NYSE:IBM) had its target price boosted by analysts at Bank of America from $209.00 to $250.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Bank of America‘s price target would suggest a potential upside of 6.61% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a report on Wednesday, October 2nd. UBS Group raised their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group raised their target price on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average target price of $196.12.

International Business Machines Price Performance

IBM traded up $5.89 on Wednesday, reaching $234.51. The company had a trading volume of 2,895,571 shares, compared to its average volume of 4,206,406. International Business Machines has a one year low of $135.87 and a one year high of $234.90. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The company has a fifty day moving average of $205.08 and a 200-day moving average of $186.69. The company has a market capitalization of $215.42 billion, a P/E ratio of 26.56, a PEG ratio of 4.90 and a beta of 0.70.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. bought 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 $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. acquired a new stake in International Business Machines in the fourth quarter valued at $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter valued at $36,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

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.