In a report released yesterday, Jeff Kvaal from Nomura maintained a Buy rating on International Business Machines (IBM), with a price target of $135.00. The company’s shares closed last Wednesday at $118.57.
According to TipRanks.com, Kvaal is a 5-star analyst with an average return of 7.5% and a 57.4% success rate. Kvaal covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, CommScope Holding, and Dell Technologies.
Currently, the analyst consensus on International Business Machines is a Moderate Buy with an average price target of $133.42, representing an 11.3% upside. In a report issued on April 6, Merrill Lynch also reiterated a Buy rating on the stock with a $145.00 price target.
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The company has a one-year high of $158.75 and a one-year low of $90.56. Currently, International Business Machines has an average volume of 7.31M.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IBM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
International Business Machines Corp. is an information technology company, which provides integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing. The Cloud & Cognitive Software segment provides integrated and secure cloud, data and solutions to the clients. The Global Business Services segment provides clients with consulting, application management and global process services. The Global Technology Services segment provides comprehensive IT infrastructure and platform services that create business value for clients. The Systems segment provides clients with innovative infrastructure platforms to help meet the requirements of hybrid cloud and enterprise AI workload. The Global Financing segment encompasses two primary businesses: financing, primarily conducted through IBM Credit LLC, and remanufacturing and remarketing. The company was founded by Charles Ranlett Flint and Thomas J. Watson Sr. on June 16, 1911 and is headquartered in Armonk, NY.
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