International Business Machines (NYSE:IBM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

International Business Machines (NYSE:IBM) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $244.00 to $290.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.67% from the company’s previous close.

Several other equities research analysts have also recently issued reports on IBM. BMO Capital Markets lifted their price objective on shares of International Business Machines from $260.00 to $300.00 and gave the company a “market perform” rating in a research report on Friday, July 18th. Bank of America reduced their price objective on shares of International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday. Melius Research upgraded shares of International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada upped their price target on shares of International Business Machines from $285.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.75.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $259.70 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.97. International Business Machines has a 1-year low of $181.81 and a 1-year high of $296.16. The company has a market capitalization of $241.36 billion, a P/E ratio of 42.16, a P/E/G ratio of 5.52 and a beta of 0.69. The firm’s 50 day simple moving average is $277.69 and its two-hundred day simple moving average is $255.81.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The firm had revenue of $16.98 billion for 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%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.43 earnings per share. Research analysts expect that International Business Machines will post 10.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IBM. Family CFO Inc bought a new position in International Business Machines during the second quarter valued at $25,000. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines during the first quarter valued at $27,000. SSA Swiss Advisors AG purchased a new stake in shares of International Business Machines during the first quarter valued at $28,000. Dagco Inc. purchased a new stake in shares of International Business Machines during the first quarter valued at $31,000. Finally, Silicon Valley Capital Partners boosted its stake in shares of International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Institutional investors 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.