Wedbush Increases International Business Machines (NYSE:IBM) Price Target to $160.00

International Business Machines (NYSE:IBM) had its price target raised by research analysts at Wedbush from $140.00 to $160.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Wedbush’s price objective would indicate a potential downside of 4.31% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Bank of America lifted 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. Evercore raised International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. BMO Capital Markets boosted their target price on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. Finally, Evercore ISI raised International Business Machines from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $165.00 to $200.00 in a research note on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $184.08.

International Business Machines Trading Down 1.0 %

Shares of IBM stock opened at $167.20 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The business has a 50-day moving average price of $187.60 and a two-hundred day moving average price of $170.15. International Business Machines has a 12-month low of $120.55 and a 12-month high of $199.18. The firm has a market cap of $153.28 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 3.62 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.50% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. Equities analysts anticipate that International Business Machines will post 10.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Desjardins Global Asset Management Inc. raised its position in shares of International Business Machines by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after acquiring an additional 54 shares in the last quarter. Arden Trust Co raised its position in shares of International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after acquiring an additional 54 shares in the last quarter. Calamos Wealth Management LLC raised its position in shares of International Business Machines by 2.8% in the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after acquiring an additional 55 shares in the last quarter. Avion Wealth raised its position in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after acquiring an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of International Business Machines by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after acquiring an additional 58 shares in the last quarter. Institutional investors 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.