International Business Machines’ (IBM) Outperform Rating Reiterated at Oppenheimer

International Business Machines (NYSE:IBM)‘s stock had its “outperform” rating restated by research analysts at Oppenheimer in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $350.00 price objective on the technology company’s stock, up from their prior price objective of $320.00. Oppenheimer’s price target points to a potential upside of 20.50% from the stock’s current price.

Other analysts have also recently issued reports about the company. Stifel Nicolaus set a $290.00 price target on International Business Machines in a research report on Friday, May 22nd. HSBC lowered International Business Machines from a “hold” rating to a “reduce” rating and set a $191.00 price objective for the company. in a research report on Tuesday. Barclays started coverage on International Business Machines in a research note on Monday, June 1st. They set an “overweight” rating and a $350.00 price objective for the company. Piper Sandler raised International Business Machines to an “overweight” rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings downgraded International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, International Business Machines presently has a consensus rating of “Moderate Buy” and an average price target of $307.17.

International Business Machines Price Performance

IBM stock opened at $290.46 on Tuesday. The company has a market cap of $273.00 billion, a P/E ratio of 25.68, a PEG ratio of 2.78 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The firm has a 50-day moving average of $264.95 and a 200 day moving average of $265.82. International Business Machines has a 1 year low of $212.34 and a 1 year high of $332.46.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. The company had revenue of $15.92 billion during the quarter, compared to analysts’ expectations of $15.60 billion. During the same period last year, the company posted $1.60 EPS. International Business Machines’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts forecast that International Business Machines will post 12.45 EPS for the current year.

Institutional Trading of International Business Machines

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of International Business Machines by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after purchasing an additional 1,439,824 shares during the last quarter. State Street Corp boosted its position in shares of International Business Machines by 1.0% during the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after buying an additional 518,321 shares during the last quarter. Geode Capital Management LLC increased its holdings in International Business Machines by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after buying an additional 336,069 shares in the last quarter. Capital World Investors increased its holdings in International Business Machines by 29.2% in the 4th quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock worth $6,523,720,000 after buying an additional 4,976,756 shares in the last quarter. Finally, Bank of America Corp DE raised its position in International Business Machines by 7.0% in the 1st quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after buying an additional 1,049,602 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about International Business Machines

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM’s preliminary Q2 results came in below expectations, with both EPS and revenue missing estimates, triggering a steep selloff. Reuters: IBM expects second-quarter revenue below estimates
• Negative Sentiment: Management blamed the shortfall on delayed deal closures and shifting client spending, raising near-term concerns about execution and demand mix. CNBC: IBM shares drop more than 17% after company warns second-quarter earnings fell short of expectations
• Negative Sentiment: IBM’s warning is spilling over into peers such as ServiceNow, suggesting the miss may be interpreted as a broader sign of softer enterprise software spending. Benzinga: ServiceNow Stock Falls in Sympathy With IBM After Disappointing Preliminary Q2 Results
• Neutral Sentiment: Morgan Stanley raised its price target on IBM to $293, which signals some analyst confidence, though the firm kept an equal-weight rating. Benzinga/The Fly: IBM price target raised by Morgan Stanley

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.