International Business Machines (NYSE:IBM) Price Target Cut to $280.00 by Analysts at Argus

International Business Machines (NYSE:IBM) had its price target decreased by equities researchers at Argus from $360.00 to $280.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Argus’ price objective would suggest a potential upside of 31.92% from the company’s current price.

A number of other analysts also recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating on shares of International Business Machines in a research note on Tuesday, June 23rd. Jefferies Financial Group initiated coverage on International Business Machines in a report on Tuesday, June 23rd. They set a “buy” rating on the stock. Citigroup upped their price target on shares of International Business Machines from $285.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. DZ Bank upgraded shares of International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 price objective for the company in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. raised shares of International Business Machines from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $270.00 to $291.00 in a research note on Tuesday, June 23rd. Fifteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, International Business Machines currently has an average rating of “Moderate Buy” and a consensus target price of $302.72.

International Business Machines Price Performance

Shares of International Business Machines stock traded up $1.05 on Thursday, hitting $212.25. The company had a trading volume of 8,787,241 shares, compared to its average volume of 7,894,125. International Business Machines has a 52 week low of $204.44 and a 52 week high of $332.46. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The company has a market cap of $199.50 billion, a PE ratio of 18.77, a PEG ratio of 2.10 and a beta of 0.68. The business has a 50-day simple moving average of $264.41 and a 200-day simple moving average of $264.54.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.81 by $0.10. The firm had revenue of $15.92 billion for the quarter, compared to analysts’ expectations of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 earnings per share. Research analysts expect that International Business Machines will post 12.43 EPS for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in International Business Machines in the 4th quarter worth $2,446,429,000. Capital World Investors raised its position in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after buying an additional 4,976,756 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of International Business Machines by 83.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company’s stock valued at $1,663,847,000 after buying an additional 2,553,552 shares during the period. Corient Private Wealth LLC lifted its stake in shares of International Business Machines by 359.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company’s stock valued at $561,814,000 after buying an additional 1,484,026 shares during the period. Finally, Vanguard Group Inc. grew its position in International Business Machines by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after buying an additional 1,439,824 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM said Q2 revenue and profit missed estimates, with software and infrastructure demand softer than expected. Management also said some large deals were delayed as customers reassessed spending priorities. Analysts React on IBM’s Worst Day on Record: What History Says Happens Next
• Negative Sentiment: The company’s comments suggested enterprise customers are prioritizing AI infrastructure, cybersecurity, and hardware over traditional software spending, raising concern that IBM’s mix may be under pressure for longer than expected. IBM shares plunge 25% as customers shift spending to AI
• Neutral Sentiment: Several analysts and commentators are debating whether the selloff has created a long-term buying opportunity, but near-term sentiment remains cautious after one of the worst drops in IBM’s history. Why is IBM Stock Crashing, and is it a Generational Buying Opportunity?

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.