International Business Machines (NYSE:IBM) Price Target Cut to $185.00

International Business Machines (NYSE:IBM) had its target price decreased by research analysts at JPMorgan Chase & Co. from $190.00 to $185.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 9.83% from the company’s previous close.

A number of other equities analysts have also issued reports on IBM. Jefferies Financial Group lowered their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating on the stock in a research report on Tuesday. Bank of America raised their target price on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Societe Generale restated a “sell” rating and set a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Finally, Evercore upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $165.00 to $200.00 in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $180.31.

International Business Machines Stock Down 8.5 %

International Business Machines stock traded down $15.66 during mid-day trading on Thursday, hitting $168.44. The company had a trading volume of 12,681,322 shares, compared to its average volume of 4,901,624. The stock has a market cap of $154.42 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.58 and a beta of 0.70. International Business Machines has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The business has a fifty day moving average of $188.36 and a 200 day moving average of $169.98.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 earnings per share. On average, sell-side analysts expect that International Business Machines will post 10.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Naples Money Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $28,000. Creekmur Asset Management LLC acquired a new position in shares of International Business Machines during the 4th quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Business Machines during the 4th quarter worth $31,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 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 buying an additional 123 shares during the last quarter. Finally, Creative Capital Management Investments LLC raised its stake in shares of International Business Machines by 56.9% during the 1st quarter. Creative Capital Management Investments LLC now owns 204 shares of the technology company’s stock worth $39,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.