International Business Machines (NYSE:IBM) Trading 2% Higher After Better-Than-Expected Earnings

International Business Machines Corporation (NYSE:IBM)’s stock price traded up 2% on Wednesday following a better than expected earnings announcement. The stock traded as high as $289.17 and last traded at $287.57. 9,644,311 shares traded hands during trading, an increase of 103% from the average session volume of 4,744,020 shares. The stock had previously closed at $282.05.

The technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.22. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. During the same quarter in the prior year, the company posted $2.30 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. International Business Machines has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of International Business Machines in a research note on Wednesday, October 8th. BMO Capital Markets boosted their target price on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, July 18th. Stifel Nicolaus upped their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Jefferies Financial Group upped their price target on shares of International Business Machines from $280.00 to $305.00 and gave the stock a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $289.08.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the business. Family CFO Inc acquired a new position in International Business Machines during the second quarter worth $25,000. Winnow Wealth LLC acquired a new position in International Business Machines during the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new position in International Business Machines during the first quarter worth $27,000. SSA Swiss Advisors AG acquired a new position in International Business Machines during the first quarter worth $28,000. Finally, Highline Wealth Partners LLC grew its position in shares of International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Trading Up 2.0%

The company has a market capitalization of $267.27 billion, a price-to-earnings ratio of 46.68, a P/E/G ratio of 4.34 and a beta of 0.73. The company has a 50-day moving average price of $263.92 and a 200-day moving average price of $262.56. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.00.

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.