BNP Paribas Begins Coverage on International Business Machines (NYSE:IBM)

Equities researchers at BNP Paribas started coverage on shares of International Business Machines (NYSE:IBM) in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage set an “underperform” rating and a $145.00 price target on the technology company’s stock. BNP Paribas’ price target would suggest a potential downside of 11.78% from the company’s previous close.

A number of other analysts have also issued reports on IBM. Royal Bank of Canada boosted their price target on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. UBS Group increased their price target on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. decreased their price objective on International Business Machines from $190.00 to $185.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $165.00 to $200.00 in a report on Friday, January 19th. Finally, Jefferies Financial Group reduced their price target on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average price target of $181.29.

International Business Machines Price Performance

IBM opened at $164.36 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The business has a fifty day moving average of $186.54 and a 200 day moving average of $170.87. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18. The stock has a market cap of $150.68 billion, a P/E ratio of 18.61, a PEG ratio of 4.08 and a beta of 0.74.

International Business Machines (NYSE:IBM) last issued its earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that International Business Machines will post 9.94 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IBM. Desjardins Global Asset Management Inc. boosted its stake in shares of International Business Machines by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock worth $644,000 after purchasing an additional 54 shares during the last quarter. Arden Trust Co boosted its holdings in International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock worth $377,000 after acquiring an additional 54 shares during the period. Calamos Wealth Management LLC increased its position in shares of International Business Machines by 2.8% during the fourth quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock worth $328,000 after acquiring an additional 55 shares during the last quarter. Avion Wealth raised its stake in shares of International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after purchasing an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of International Business Machines by 0.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 58 shares during the period. Hedge funds and other 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.