In yesterday’s Wall Street session, International Business Machines Corp. (NYSE:IBM) shares traded at $160.28, down -0.69% from the previous session.
As of this writing, 18 analysts cover International Business Machines Corp. (NYSE:IBM). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $179.00 and a low of $110.00, we find $145.00. Given the previous closing price of $161.39, this indicates a potential downside of -10.16 percent. IBM stock price is now 9.37% away from the 50-day moving average and 16.87% away from the 200-day moving average. The market capitalization of the company currently stands at $146.35B.
There are 11 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $148.29 as their price target over the next twelve months.
With the price target enhanced from $155 to $170, BofA Securities maintained Buy rating for International Business Machines Corp. (NYSE: IBM).
In other news, KAVANAUGH JAMES J, Sr. VP and CFO sold 38,519 shares of the company’s stock on Feb 01. The stock was sold for $5,151,038 at an average price of $133.73. Upon completion of the transaction, the Sr. VP and CFO now directly owns 74,467 shares in the company, valued at $11.94 million. Insiders disposed of 218,850 shares of company stock worth roughly $35.08 million over the past 1 year. A total of 0.08% of the company’s stock is owned by insiders.
Wednesday morning saw International Business Machines Corp. (NYSE: IBM) opened at $161.59. During the past 12 months, International Business Machines Corp. has had a low of $120.55 and a high of $162.79. As of last week, the company has a debt-to-equity ratio of 2.54, a current ratio of 0.87, and a quick ratio of 0.83. According to the stock market information, the enterprise value for the company is $193.90B, which is based on a 21.27 price-to-earnings ratio, a 7.60 price-to-earnings-growth ratio, and a beta of 0.76. The fifty day moving average price for IBM is $146.55 and a two-hundred day moving average price translates $137.14 for the stock.
The latest earnings results from International Business Machines Corp. (NYSE: IBM) was released for Sep, 2023. According to the Information Technology Services Company, earnings per share came in at $2.03, beating analysts’ expectations of $1.96 by 0.07. This compares to $0.02 EPS in the same period last year. The net profit margin was 11.32% and return on equity was 32.89% for IBM. The company reported revenue of $14.75 billion for the quarter, compared to $14.11 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.57 percent. For the current quarter, analysts expect IBM to generate $17.22B in revenue.
