Wedbush Boosts International Business Machines (NYSE:IBM) Price Target to $160.00

International Business Machines (NYSE:IBM) had its price target lifted by analysts at Wedbush from $140.00 to $160.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Wedbush’s price objective would indicate a potential downside of 13.05% from the company’s current price.

Several other brokerages have also recently weighed in on IBM. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America lifted their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research note 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 report on Friday, January 5th. Evercore raised shares of 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 research report on Friday, January 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $190.00 price target on shares of International Business Machines in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines has a consensus rating of “Hold” and an average target price of $178.77.

International Business Machines Stock Performance

NYSE:IBM opened at $184.01 on Thursday. The firm’s 50-day moving average is $188.36 and its 200-day moving average is $169.98. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.93 and a current ratio of 0.96. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a market cap of $168.69 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 3.58 and a beta of 0.70.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.53 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines will post 10.04 earnings per share for the current year.

Hedge Funds Weigh In On International Business Machines

Large investors have recently added to or reduced their stakes in the business. Naples Money Management LLC bought a new position in shares of International Business Machines during the 4th quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new position in shares of International Business Machines during the 4th quarter valued at $29,000. Briaud Financial Planning Inc bought a new position in International Business Machines during the third quarter worth about $31,000. Ables Iannone Moore & Associates Inc. bought a new position in International Business Machines in the 4th quarter worth approximately $31,000. Finally, Stone House Investment Management LLC grew its position in shares of International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock valued at $32,000 after purchasing an additional 204 shares in the last quarter. 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.