International Business Machines (NYSE:IBM) Price Target Raised to $245.00 at Jefferies Financial Group

International Business Machines (NYSE:IBM) had its price objective hoisted by stock analysts at Jefferies Financial Group from $200.00 to $245.00 in a report released on Monday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price target points to a potential upside of 5.51% from the company’s previous close.

IBM has been the subject of a number of other research reports. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a report on Friday, July 26th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets boosted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price target on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Bernstein Bank boosted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $205.71.

International Business Machines Price Performance

IBM opened at $232.20 on Monday. The company has a fifty day moving average price of $212.19 and a two-hundred day moving average price of $189.14. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines has a 52 week low of $135.87 and a 52 week high of $237.37. The firm has a market capitalization of $213.30 billion, a PE ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the business earned $2.18 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, analysts anticipate that International Business Machines will post 10.1 earnings per share for the current year.

Institutional Investors Weigh In On International Business Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in International Business Machines by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Legal & General Group Plc lifted its position in International Business Machines by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock worth $1,467,974,000 after buying an additional 330,694 shares in the last quarter. Ameriprise Financial Inc. lifted its position in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after buying an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of International Business Machines by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock valued at $829,431,000 after purchasing an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares during the period. 58.96% of the stock is owned by institutional investors.

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.