International Business Machines (NYSE:IBM) Price Target Cut to $210.00 by Analysts at Jefferies Financial Group

International Business Machines (NYSE:IBM) had its price objective cut by analysts at Jefferies Financial Group from $215.00 to $210.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 14.06% from the stock’s previous close.

IBM has been the topic of several other research reports. UBS Group upped their price objective on International Business Machines from $125.00 to $130.00 and gave the stock a “sell” rating in a research report on Monday. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI upgraded International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the company from $165.00 to $200.00 in a report on Friday, January 19th. BMO Capital Markets lifted their price objective on International Business Machines from $155.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, January 25th. Finally, Sanford C. Bernstein raised their target price on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Two equities 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. Based on data from MarketBeat.com, International Business Machines currently has an average rating of “Hold” and an average target price of $177.23.

International Business Machines Price Performance

IBM traded up $2.21 during trading hours on Tuesday, hitting $184.11. The company’s stock had a trading volume of 1,011,452 shares, compared to its average volume of 4,707,969. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 2.22. The business’s 50-day moving average price is $188.38 and its 200-day moving average price is $169.59. The stock has a market cap of $168.78 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 3.57 and a beta of 0.70. International Business Machines has a 12 month low of $120.55 and a 12 month high of $199.18.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The business had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $17.29 billion. During the same period in the previous year, the company posted $3.60 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts expect that International Business Machines will post 10.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

Large investors have recently made changes to their positions in the business. Naples Money Management LLC bought a new position in International Business Machines during the fourth quarter valued at about $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines in the 4th quarter valued at $29,000. Ables Iannone Moore & Associates Inc. acquired a new stake in International Business Machines during the 4th quarter worth $31,000. Financial Synergies Wealth Advisors Inc. increased its holdings in International Business Machines by 164.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in International Business Machines by 54.6% during the 1st quarter. Versant Capital Management Inc now owns 218 shares of the technology company’s stock worth $42,000 after purchasing an additional 77 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.