International Business Machines (NYSE:IBM) Price Target Raised to $210.00

International Business Machines (NYSE:IBM) had its target price hoisted by Bernstein Bank from $185.00 to $210.00 in a research note issued on Thursday. The brokerage presently has a “market perform” rating on the technology company’s stock. Bernstein Bank’s target price suggests a potential downside of 5.44% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus upped their target price on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Jefferies Financial Group boosted their target price on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets boosted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has a consensus rating of “Hold” and a consensus price target of $194.35.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $2.34 during midday trading on Thursday, reaching $222.07. The company had a trading volume of 2,554,672 shares, compared to its average volume of 4,219,176. The company has a market capitalization of $203.99 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. 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 has a fifty day simple moving average of $202.31 and a 200 day simple moving average of $185.78. 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 posted its quarterly earnings results 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. The company 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 quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.18 EPS. As a group, equities research analysts forecast that International Business Machines will post 10.1 earnings per share for the current year.

Institutional Investors Weigh In On International Business Machines

A number of large investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of International Business Machines during the 2nd quarter worth $7,160,000. Mosley Wealth Management bought a new position in shares of International Business Machines in the fourth quarter worth about $312,000. Hodges Capital Management Inc. lifted its holdings in shares of International Business Machines by 60.8% in the first quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after acquiring an additional 7,768 shares during the last quarter. Burns J W & Co. Inc. NY grew its holdings in shares of International Business Machines by 10.8% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock valued at $491,000 after purchasing an additional 250 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in International Business Machines during the 4th quarter worth approximately $3,017,000. Institutional investors and hedge funds 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.