International Business Machines (NYSE:IBM) Coverage Initiated at Oppenheimer

Equities researchers at Oppenheimer started coverage on shares of International Business Machines (NYSE:IBM) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $320.00 price target on the technology company’s stock. Oppenheimer’s price target would indicate a potential upside of 25.07% from the company’s current price.

Several other research firms have also recently weighed in on IBM. Bank of America lifted their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Morgan Stanley lifted their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Stifel Nicolaus lifted their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. UBS Group lifted their price target on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Stock Performance

IBM opened at $255.86 on Tuesday. International Business Machines has a 12-month low of $162.62 and a 12-month high of $265.72. The stock has a market cap of $236.58 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 5.57 and a beta of 0.76. The business has a 50 day moving average of $230.70 and a 200-day moving average of $218.22. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, equities research analysts expect that International Business Machines will post 10.75 earnings per share for the current year.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently modified their holdings of the business. Compass Financial Services Inc bought a new position in shares of International Business Machines in the 4th quarter valued at $26,000. Hazlett Burt & Watson Inc. increased its stake in shares of International Business Machines by 1,054.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new position in shares of International Business Machines in the 3rd quarter valued at $29,000. Vision Financial Markets LLC bought a new stake in International Business Machines during the 4th quarter worth $31,000. Finally, Avondale Wealth Management grew its position in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

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.