IBM (NYSE:IBM) Given a $169.00 Price Target by Stifel Nicolaus Analysts

IBM (NYSE:IBM) has been given a $169.00 price target by analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 25.51% from the company’s previous close.

A number of other research firms have also weighed in on IBM. Wells Fargo & Co reiterated a “market perform” rating and issued a $140.00 price objective (down from $147.00) on shares of IBM in a research note on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $152.00 price objective on shares of IBM in a research note on Monday, August 12th. Wedbush reiterated a “neutral” rating and issued a $155.00 price objective (down from $165.00) on shares of IBM in a research note on Thursday. BMO Capital Markets reduced their price objective on shares of IBM from $157.00 to $152.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $173.00 price objective on shares of IBM in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $155.63.

IBM stock traded down $7.46 during mid-day trading on Tuesday, reaching $134.65. The company’s stock had a trading volume of 1,081,867 shares, compared to its average volume of 2,905,429. IBM has a 12-month low of $105.94 and a 12-month high of $152.95. The company has a market capitalization of $125.83 billion, a P/E ratio of 9.65, a PEG ratio of 2.22 and a beta of 1.33. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.79 and a current ratio of 1.83. The firm’s fifty day moving average price is $140.94 and its two-hundred day moving average price is $139.42.

IBM (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 16th. The technology company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.01. IBM had a net margin of 11.22% and a return on equity of 69.56%. The business had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.29 billion. During the same period in the previous year, the business earned $3.42 EPS. IBM’s revenue was down 3.9% compared to the same quarter last year. On average, research analysts predict that IBM will post 12.8 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBM. Next Capital Management LLC lifted its holdings in shares of IBM by 50.0% during the 2nd quarter. Next Capital Management LLC now owns 213 shares of the technology company’s stock worth $29,000 after acquiring an additional 71 shares during the last quarter. Motco lifted its holdings in shares of IBM by 15.6% during the 2nd quarter. Motco now owns 1,665 shares of the technology company’s stock worth $230,000 after acquiring an additional 225 shares during the last quarter. Sonora Investment Management LLC lifted its holdings in shares of IBM by 11.5% during the 2nd quarter. Sonora Investment Management LLC now owns 1,802 shares of the technology company’s stock worth $248,000 after acquiring an additional 186 shares during the last quarter. Noesis Capital Mangement Corp bought a new stake in shares of IBM during the 2nd quarter worth $291,000. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of IBM by 10.5% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 2,185 shares of the technology company’s stock worth $301,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 55.41% of the company’s stock.

About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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