Stocks of International Business Machines Corp. (NYSE:IBM) traded higher last session on Wall Street, up 0.73% to $164.71.
According to the data, International Business Machines Corp. (NYSE:IBM) has 18 analysts covering its stock. 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 $147.50. Given the previous closing price of $163.51, this indicates a potential downside of -9.79 percent. IBM stock price is now 11.21% away from the 50-day moving average and 19.57% away from the 200-day moving average. The market capitalization of the company currently stands at $150.40B.
A total of 11 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $151.43 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 $12.27 million. Insiders disposed of 202,352 shares of company stock worth roughly $33.33 million over the past 1 year. A total of 0.08% of the company’s stock is owned by insiders.
Tuesday’s opening bell rang with an opening price of $163.27 for International Business Machines Corp. (NYSE: IBM). During the past 12 months, International Business Machines Corp. has had a low of $120.55 and a high of $163.65. 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 $197.95B, which is based on a 21.86 price-to-earnings ratio, a 7.81 price-to-earnings-growth ratio, and a beta of 0.76. The fifty day moving average price for IBM is $148.10 and a two-hundred day moving average price translates $137.75 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 $2.2, beating analysts’ expectations of $2.12 by 0.08. 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.
International Business Machines Corp.(IBM) Company Profile
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity. This segment also provides transaction processing software that supports clients’ mission-critical and on-premise workloads in banking, airlines, and retail industries. The Consulting segment offers business transformation services, including strategy, business process design and operations, data and analytics, and system integration services; technology consulting services; and application and cloud platform services. The Infrastructure segment provides on-premises and cloud-based server and storage solutions for its clients’ mission-critical and regulated workloads; and support services and solutions for hybrid cloud infrastructure, as well as remanufacturing and remarketing services for used equipment. The Financing segment offers lease, installment payment, loan financing, and short-term working capital financing services. The company has collaboration agreement with Siemens Digital Industri Software to develop a combined software solution. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York.
