International Business Machines (NYSE:IBM) Receives New Coverage from Analysts at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group started coverage on shares of International Business Machines (NYSE:IBM) in a research note issued to investors on Monday, Marketbeat reports. The firm set a “buy” rating and a $200.00 price target on the technology company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 15.97% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Bank of America boosted their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. BNP Paribas began coverage on International Business Machines in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $145.00 price target on the stock. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Wedbush upped their price objective on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Finally, Morgan Stanley cut their price objective on International Business Machines from $186.00 to $179.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, International Business Machines has an average rating of “Hold” and a consensus price target of $182.53.

International Business Machines Price Performance

Shares of NYSE IBM opened at $172.46 on Monday. International Business Machines has a 1-year low of $129.18 and a 1-year high of $199.18. The business has a 50-day moving average of $170.91 and a 200-day moving average of $176.23. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The company has a market capitalization of $158.42 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 4.29 and a beta of 0.72.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that International Business Machines will post 9.9 EPS for the current fiscal year.

Institutional Trading of International Business Machines

Institutional investors and hedge funds have recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new position in International Business Machines in the 1st quarter worth approximately $26,000. Naples Money Management LLC bought a new position in International Business Machines in the 4th quarter worth approximately $28,000. ESL Trust Services LLC bought a new position in International Business Machines in the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new position in International Business Machines during the 4th quarter valued at $29,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines during the 4th quarter valued at $31,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.