International Business Machines Corp. [NYSE: IBM] surged by $4.86 during the normal trading session on while it closed the day at $193.06. The company report on February 29, 2024 at 3:15 PM that White House’s National Cyber Director Features HBCU Cybersecurity Initiative From IBM SkillsBuild.
National Cyber Director Coker Remarks at Norfolk State University HBCU Roundtable.
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At a Black History Month Roundtable held in late February at Norfolk State University, Harry Coker, Jr., the White House’s National Cyber Director, highlighted the Cybersecurity Leadership Centers that IBM co-created with 20 Historically Black Colleges and Universities (HBCUs).
International Business Machines Corp. stock has also gained 4.85% of its value over the past 7 days. However, IBM stock has inclined by 21.76% in the 3 months of the year. Over the past six months meanwhile, it has gained 31.49% and gained 18.04% year-on date.
The market cap for IBM stock reached $176.99 billion, with 916.75 million shares outstanding and 915.86 million shares in the current float. Compared to the average trading volume of 5.01M shares, IBM reached a trading volume of 7934715 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about International Business Machines Corp. [IBM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IBM shares is $184.82 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IBM stock is a recommendation set at 2.68. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Evercore ISI have made an estimate for International Business Machines Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 19, 2024. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on January 05, 2024, representing the official price target for International Business Machines Corp. stock. Previously, the target price had yet another raise to $143, while Societe Generale analysts kept a Sell rating on IBM stock. On December 05, 2023, analysts increased their price target for IBM shares from 155 to 170.
The Average True Range (ATR) for International Business Machines Corp. is set at 3.39, with the Price to Sales ratio for IBM stock in the period of the last 12 months amounting to 2.86. The Price to Book ratio for the last quarter was 7.84, with the Price to Cash per share for the same quarter was set at 14.68. Price to Free Cash Flow for IBM in the course of the last twelve months was 13.95 with Quick ratio for the last quarter at 0.90.
IBM stock trade performance evaluation
International Business Machines Corp. [IBM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.85. With this latest performance, IBM shares gained by 3.30% in over the last four-week period, additionally plugging by 31.49% over the last 6 months – not to mention a rise of 49.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IBM stock in for the last two-week period is set at 68.38, with the RSI for the last a single of trading hit 72.04, and the three-weeks RSI is set at 67.16 for International Business Machines Corp. [IBM]. The present Moving Average for the last 50 days of trading for this stock 175.86, while it was recorded at 187.29 for the last single week of trading, and 151.13 for the last 200 days.
International Business Machines Corp. [IBM]: An insightful look at the core fundamentals
International Business Machines Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.94.
Earnings per share (EPS) analysis for International Business Machines Corp. [IBM] stock
With the latest financial reports released by the company, International Business Machines Corp. posted 1.36/share EPS, while the average EPS was predicted by analysts to be reported at 1.26/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IBM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for International Business Machines Corp. go to 2.80%.
International Business Machines Corp. [IBM]: Institutional Ownership
The top three institutional holders of IBM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IBM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IBM stock with ownership which is approximately 5.8325%.
