JPMorgan Chase & Co. Forecasts Strong Price Appreciation for International Business Machines (NYSE:IBM) Stock

International Business Machines (NYSE:IBMGet Free Report) had its price target increased by stock analysts at JPMorgan Chase & Co. from $290.00 to $312.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.58% from the stock’s current price.

Several other analysts have also issued reports on IBM. Bank of America upped their target price on International Business Machines from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Dbs Bank upgraded shares of International Business Machines from a “hold” rating to a “moderate buy” rating in a report on Monday. Jefferies Financial Group raised shares of International Business Machines from a “hold” rating to a “buy” rating and increased their target price for the company from $300.00 to $360.00 in a report on Monday, January 5th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Finally, Royal Bank Of Canada boosted their price objective on International Business Machines from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.86.

Check Out Our Latest Report on International Business Machines

International Business Machines Price Performance

NYSE IBM traded up $4.16 during trading hours on Wednesday, reaching $295.51. 657,503 shares of the stock traded hands, compared to its average volume of 4,074,546. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $302.94 and a two-hundred day simple moving average of $282.50. International Business Machines has a 1 year low of $214.50 and a 1 year high of $324.90. The company has a market cap of $276.22 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.96 and a beta of 0.70.

International Business Machines (NYSE:IBMGet Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.20. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.30 EPS. On average, analysts predict that International Business Machines will post 10.78 EPS for the current fiscal year.

Institutional Trading of International Business Machines

A number of hedge funds have recently made changes to their positions in IBM. Family CFO Inc bought a new position in shares of International Business Machines during the second quarter valued at $25,000. Winnow Wealth LLC purchased a new stake in International Business Machines during the 2nd quarter valued at about $27,000. Mountain Hill Investment Partners Corp. purchased a new position in International Business Machines in the third quarter worth about $28,000. SWAN Capital LLC bought a new position in shares of International Business Machines in the third quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC grew its holdings in shares of International Business Machines by 85.0% during the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after buying an additional 51 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines News Summary

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About International Business Machines

(Get Free Report)

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.

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