International Business Machines (NYSE:IBM) PT Raised to $246.00

International Business Machines (NYSE:IBM) had its target price increased by stock analysts at Stifel Nicolaus from $205.00 to $246.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 5.65% from the stock’s current price.

A number of other equities analysts have also recently issued reports on IBM. BMO Capital Markets increased their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Evercore ISI increased their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada increased their target price on International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, International Business Machines has a consensus rating of “Hold” and a consensus target price of $203.06.

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $232.85 on Wednesday. The company has a market capitalization of $213.90 billion, a PE ratio of 26.37, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines has a 12 month low of $135.87 and a 12 month high of $237.37. 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 stock’s fifty day simple moving average is $211.38 and its 200 day simple moving average is $188.85.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 EPS. On average, research analysts predict that International Business Machines will post 10.1 EPS for the current year.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of IBM. Vanguard Group Inc. grew its holdings in International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after purchasing an additional 5,546,855 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Business Machines by 151.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after acquiring an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC boosted its holdings in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after acquiring an additional 468,567 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after acquiring an additional 444,698 shares during the period. 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.