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

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

Several other brokerages have also commented on IBM. Bernstein Bank lifted their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, UBS Group boosted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Three 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, the company has a consensus rating of “Hold” and a consensus price target of $205.71.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $232.20 on Monday. The firm has a 50 day simple moving average of $212.19 and a 200 day simple moving average of $189.14. The company has a market cap of $213.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines has a one year low of $135.87 and a one year high of $237.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last posted its quarterly 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. The business had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $2.18 earnings per share. Research analysts predict that International Business Machines will post 10.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in International Business Machines by 6.7% in 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 during the period. Price T Rowe Associates Inc. MD increased its holdings in 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 worth $671,352,000 after buying an additional 2,118,165 shares during the period. Thrivent Financial for Lutherans increased its holdings in International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC boosted its position in International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after purchasing an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Institutional investors and hedge funds 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.