International Business Machines Corp. (NYSE:IBM) shares traded -1.06% lower at $191.90 on Wall Street last session.
IBM stock price is now 4.48% away from the 50-day moving average and 23.73% away from the 200-day moving average. The market capitalization of the company currently stands at $175.92B.
With the price target enhanced from $165 to $200, Evercore ISI Upgraded its rating from In-line to Outperform for International Business Machines Corp. (NYSE: IBM). On January 05, 2024, Jefferies recently initiated its ‘Hold’ rating on the stock quoting a target price of $180, while ‘Societe Generale’ rates the stock as ‘Sell’
In other news, BROWDY MICHELLE H, Senior Vice President sold 9,800 shares of the company’s stock on Feb 01 ’24. The stock was sold for $1,811,524 at an average price of $184.85. Upon completion of the transaction, the Senior Vice President now directly owns 119,498 shares in the company, valued at $22.93 million. A total of 0.10% of the company’s stock is owned by insiders.
During the past 12 months, International Business Machines Corp. has had a low of $120.55 and a high of $199.18. As of last week, the company has a debt-to-equity ratio of 2.66, a current ratio of 0.94, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $222.42B, which is based on a 23.63 price-to-earnings ratio, a 4.63 price-to-earnings-growth ratio, and a beta of 0.70. The fifty day moving average price for IBM is $184.31 and a two-hundred day moving average price translates $155.40 for the stock.
The latest earnings results from International Business Machines Corp. (NYSE: IBM) was released for Dec, 2023. According to the Information Technology Services Company, earnings per share came in at $3.56, beating analysts’ expectations of $3.48 by 0.08. This compares to -$0.18 EPS in the same period last year. The net profit margin was 12.13% and return on equity was 33.79% for IBM. The company reported revenue of $17.38 billion for the quarter, compared to $16.69 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.13 percent. For the current quarter, analysts expect IBM to generate $13.41B in revenue.
