International Business Machines (IBM) Given a $170.00 Price Target by Goldman Sachs Group Analysts

International Business Machines (NYSE:IBM) has been given a $170.00 price objective by equities research analysts at Goldman Sachs Group in a report issued on Friday. The firm presently has a “neutral” rating on the technology company’s stock. Goldman Sachs Group’s target price suggests a potential upside of 4.70% from the company’s previous close.

IBM has been the topic of several other reports. Royal Bank of Canada reissued a “hold” rating on shares of International Business Machines in a research report on Friday, October 13th. Zacks Investment Research lowered International Business Machines from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. BMO Capital Markets reissued a “market perform” rating and set a $170.00 price target (up from $167.00) on shares of International Business Machines in a research report on Wednesday, October 18th. JPMorgan Chase & Co. set a $157.00 price target on International Business Machines and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Finally, Citigroup upped their price target on International Business Machines from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Six analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the stock. International Business Machines presently has an average rating of “Hold” and an average price target of $164.09.

Shares of International Business Machines (NYSE IBM) opened at $162.37 on Friday. International Business Machines has a fifty-two week low of $139.13 and a fifty-two week high of $182.79. The company has a market capitalization of $150,320.00, a price-to-earnings ratio of 26.57, a PEG ratio of 2.37 and a beta of 0.94. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBM) last announced its earnings results on Thursday, January 18th. The technology company reported $5.18 EPS for the quarter, beating the consensus estimate of $5.17 by $0.01. The business had revenue of $22.54 billion during the quarter, compared to the consensus estimate of $22.03 billion. International Business Machines had a return on equity of 68.39% and a net margin of 7.27%. International Business Machines’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $5.01 earnings per share. sell-side analysts anticipate that International Business Machines will post 13.83 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Herndon Capital Management LLC increased its holdings in shares of International Business Machines by 39.0% during the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock valued at $107,000 after acquiring an additional 195 shares during the last quarter. Edge Wealth Management LLC increased its holdings in shares of International Business Machines by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock valued at $117,000 after acquiring an additional 40 shares during the last quarter. ETF Managers Group LLC acquired a new position in shares of International Business Machines during the 2nd quarter valued at about $121,000. Horan Capital Advisors LLC. acquired a new position in shares of International Business Machines during the 3rd quarter valued at about $136,000. Finally, Peddock Capital Advisors LLC increased its holdings in shares of International Business Machines by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock valued at $140,000 after acquiring an additional 62 shares during the last quarter. 57.12% of the stock is currently owned by institutional investors.

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International Business Machines Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

Analyst Recommendations for International Business Machines (NYSE:IBM)

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