The Goldman Sachs Group Increases International Business Machines (NYSE:IBM) Price Target to $250.00

International Business Machines (NYSE:IBM) had its price target raised by research analysts at The Goldman Sachs Group from $220.00 to $250.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 13.97% from the stock’s current price.

IBM has been the subject of a number of other research reports. BMO Capital Markets lifted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price target on International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus lifted their target price on International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group increased their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus target price of $191.93.

International Business Machines Stock Down 0.8 %

International Business Machines stock opened at $219.36 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. International Business Machines has a 1-year low of $135.87 and a 1-year high of $224.15. The company has a fifty day simple moving average of $201.62 and a 200 day simple moving average of $185.54. The company has a market cap of $201.50 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. International Business Machines’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.18 earnings per share. Research analysts anticipate that International Business Machines will post 10.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC bought a new position in International Business Machines during the 1st quarter worth $28,000. Creekmur Asset Management LLC bought a new stake in shares of International Business Machines in the 4th quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Business Machines during the fourth quarter worth about $31,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its holdings in International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after acquiring an additional 123 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.