International Business Machines (NYSE:IBM) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

International Business Machines (NYSE:IBM) had its price objective upped by equities researchers at Stifel Nicolaus from $290.00 to $310.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 9.91% from the company’s current price.

IBM has been the subject of a number of other reports. The Goldman Sachs Group increased their price target on International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Morgan Stanley cut their target price on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Citigroup reissued an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. KGI Securities set a $242.00 price target on shares of International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $264.94.

International Business Machines Stock Performance

International Business Machines stock opened at $282.04 on Wednesday. The stock has a 50-day simple moving average of $275.65 and a 200 day simple moving average of $253.56. The stock has a market capitalization of $262.13 billion, a price-to-earnings ratio of 48.54, a P/E/G ratio of 5.92 and a beta of 0.69. International Business Machines has a 12-month low of $181.81 and a 12-month high of $296.16. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts anticipate that International Business Machines will post 10.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds have recently modified their holdings of IBM. Christopher J. Hasenberg Inc purchased a new position in shares of International Business Machines in the first quarter valued at approximately $27,000. SSA Swiss Advisors AG purchased a new position in International Business Machines in the 1st quarter valued at $28,000. Highline Wealth Partners LLC boosted its position in shares of International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Dagco Inc. purchased a new stake in shares of International Business Machines during the 1st quarter worth $31,000. Finally, Silicon Valley Capital Partners boosted its position in shares of International Business Machines by 322.6% in the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Hedge funds and other 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.