Analysts Mixed on IBM with Moderate Buy Consensus and $253.52 Price Target
International Business Machines Corporation (NYSE: IBM) has received a consensus recommendation of "Moderate Buy" from 32 research firms tracking the stock. Analysts' ratings are mixed, with 2 recommending sell, 12 holding, and 18 suggesting buy. The average 12-month price target stands at $253.52, reflecting varied expectations.
Recent analyst reports show differing opinions on IBM's stock. Citic Securities raised its target price from $294 to $297 with a "buy" rating, while Susquehanna increased its target from $225 to $235 but maintained a "neutral" rating. JPMorgan Chase reduced its target from $291 to $250 while keeping an "overweight" rating. Wolfe Research and KeyCorp both downgraded IBM, with the former assigning a "peer perform" rating and the latter a "sector weight" rating.
IBM's stock opened at $221.39 on a recent trading day, with a 12-month range between $199.19 and $332.46. The company has a market cap of $208.58 billion, a PE ratio of 19.64, and a dividend yield of 3.1%. The firm's latest earnings report met estimates with $2.93 earnings per share, though revenue fell slightly short of expectations at $17.16 billion.
Insider transactions and institutional investments also provide insight into IBM's outlook. SVP Robert Thomas sold 25,000 shares at $230.32 each, reducing his position by 34.34%. Institutional investors like Friday Financial and Trinity Wealth Management have adjusted their stakes in IBM, with 58.96% of the stock currently held by institutional investors and hedge funds.