IBM Receives Average 'Moderate Buy' Rating from Analysts
International Business Machines (NYSE:IBM) has been given an average rating of 'Moderate Buy' by twenty-seven research firms, according to Marketbeat. One analyst has rated the stock with a sell rating, while eleven have assigned a hold rating and fifteen have given a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $265.40.
In recent reports, JPMorgan Chase & Co. cut its price target on International Business Machines from $291.00 to $250.00 and set an 'overweight' rating for the company. Bank of America boosted its price target on International Business Machines from $315.00 to $330.00 and gave the company a 'buy' rating.
However, not all analysts are optimistic about the stock's prospects. Jefferies Financial Group reduced its target price on shares of International Business Machines from $320.00 to $260.00 and set a 'buy' rating for the company. The firm has a current ratio of 0.79, a quick ratio of 0.74, and a debt-to-equity ratio of 1.63.
International Business Machines reported its quarterly earnings data on July 22nd, with EPS of $2.93 hitting the consensus estimate. The company's revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that International Business Machines will post 12.33 earnings per share for the current fiscal year.
Despite some positive sentiment surrounding its partnership with OpenAI and its $240 million agreement with Together AI, investors remain cautious about the stock's growth prospects. Shares of International Business Machines have declined even after the OpenAI announcement, suggesting that investors want evidence that the alliance can accelerate sales and profits.