International Business Machines Corporation (NYSE:IBM) Upgraded by Vetr Inc. to “Buy”

International Business Machines Corporation (NYSE:IBM) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, July 31st. The brokerage presently has a $150.68 target price on the technology company’s stock. Vetr‘s price target would suggest a potential upside of 7.86% from the company’s current price.

Several other brokerages have also recently weighed in on IBM. BidaskClub cut International Business Machines Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. UBS AG restated a “neutral” rating and set a $159.00 target price (down from $167.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Royal Bank Of Canada restated a “sector perform” rating and set a $160.00 target price (down from $165.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Morgan Stanley restated an “overweight” rating and set a $192.00 target price (down from $212.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $168.00 target price (down from $170.00) on shares of International Business Machines Corporation in a report on Saturday, July 22nd. Seven research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company. International Business Machines Corporation has a consensus rating of “Hold” and a consensus target price of $157.40.

International Business Machines Corporation (NYSE:IBM) opened at 139.70 on Monday. The company has a market cap of $130.19 billion, a price-to-earnings ratio of 11.59 and a beta of 0.97. The stock has a 50 day moving average of $147.30 and a 200-day moving average of $161.22. International Business Machines Corporation has a 52-week low of $139.58 and a 52-week high of $182.79.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings data on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.74 by $0.23. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. International Business Machines Corporation had a return on equity of 71.53% and a net margin of 14.58%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.95 EPS. On average, analysts forecast that International Business Machines Corporation will post $13.77 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Congress Asset Management Co. MA acquired a new position in shares of International Business Machines Corporation during the fourth quarter valued at approximately $399,000. Denver Investment Advisors LLC boosted its stake in shares of International Business Machines Corporation by 6.3% in the fourth quarter. Denver Investment Advisors LLC now owns 34,592 shares of the technology company’s stock valued at $5,742,000 after buying an additional 2,055 shares during the period. HCR Wealth Advisors purchased a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $349,000. AQR Capital Management LLC boosted its stake in shares of International Business Machines Corporation by 6.3% in the fourth quarter. AQR Capital Management LLC now owns 1,160,543 shares of the technology company’s stock valued at $192,638,000 after buying an additional 68,838 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of International Business Machines Corporation by 24.3% in the fourth quarter. Guggenheim Capital LLC now owns 611,585 shares of the technology company’s stock valued at $101,517,000 after buying an additional 119,494 shares during the period. Institutional investors and hedge funds own 58.57% of the company’s stock.

International Business Machines Corporation 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for International Business Machines Corporation (NYSE:IBM)

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