International Business Machines (NYSE:IBM) Receives "Outperform" Rating from Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reaffirmed an "outperform" rating for International Business Machines (IBM) with a target price of $315.00, suggesting a 13.08% potential upside from current levels.
• Various analysts have adjusted their price targets, with Bank of America lowering theirs to $310.00 and BMO Capital raising it to $300.00, resulting in an overall average target price of $286.38.
• IBM reported earnings of $2.80 EPS, exceeding estimates, and saw a 7.7% year-over-year revenue increase to $16.98 billion for the last quarter.

International Business Machines (NYSE:IBM - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Royal Bank Of Canada in a report issued on Thursday,Benzinga reports. They currently have a $315.00 target price on the technology company's stock. Royal Bank Of Canada's price target indicates a potential upside of 13.08% from the stock's previous close.

A number of other equities analysts have also weighed in on the stock. Bank of America decreased their price target on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. BMO Capital Markets lifted their price target on shares of International Business Machines from $260.00 to $300.00 and gave the company a "market perform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Melius Research upgraded shares of International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, International Business Machines has an average rating of "Hold" and an average target price of $286.38.

International Business Machines Trading Down 0.8%

IBM stock traded down $2.18 during midday trading on Thursday, hitting $278.57. The stock had a trading volume of 184,072 shares, compared to its average volume of 4,713,236. The firm has a market cap of $258.90 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 4.25 and a beta of 0.73. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. International Business Machines has a 12-month low of $203.51 and a 12-month high of $301.04. The company's 50-day moving average price is $259.77 and its 200 day moving average price is $261.25.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. International Business Machines's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, equities research analysts predict that International Business Machines will post 10.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

A number of institutional investors have recently added to or reduced their stakes in IBM. MinichMacGregor Wealth Management LLC bought a new stake in shares of International Business Machines in the 1st quarter worth about $396,000. Brooklyn Investment Group increased its position in shares of International Business Machines by 32.7% in the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after purchasing an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA increased its position in shares of International Business Machines by 5.7% in the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after purchasing an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC increased its position in shares of International Business Machines by 1,547.8% in the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after purchasing an additional 16,592 shares during the last quarter. Finally, Alpha Cubed Investments LLC increased its position in shares of International Business Machines by 47.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during 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.

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