International Business Machines Corp. [NYSE: IBM] traded at a high on Tuesday, posting a 0.86 gain after which it closed the day’ session at $193.34. The company report on March 13, 2024 at 8:05 AM that Media Alert: IBM Applauds EU Parliament’s Approval of the EU AI Act.
IBM (NYSE: IBM) applauds the EU Parliament’s decision to adopt the EU AI Act, a significant milestone in establishing responsible AI regulation in the European Union.
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The EU AI Act provides a much-needed framework for ensuring transparency, accountability, and human oversight in developing and deploying AI technologies. While important work must be done to ensure the Act is successfully implemented, IBM believes the regulation will foster trust and confidence in AI systems while promoting innovation and competitiveness.
The results of the trading session contributed to over 5315838 shares changing hands. Over the past one week, the price volatility of International Business Machines Corp. stands at 1.77% while the volatility over the past one month is 1.91%.
The market cap for IBM stock reached $177.24 billion, with 916.75 million shares outstanding and 915.86 million shares in the current float. Compared to the average trading volume of 5.05M shares, IBM reached a trading volume of 5315838 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $187.04 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 3.76, with the Price to Sales ratio for IBM stock in the period of the last 12 months amounting to 2.87. The Price to Book ratio for the last quarter was 7.85, 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 13.97 with Quick ratio for the last quarter at 0.90.
How has IBM stock performed recently?
International Business Machines Corp. [IBM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.24. With this latest performance, IBM shares gained by 3.04% in over the last four-week period, additionally plugging by 33.26% over the last 6 months – not to mention a rise of 56.31% 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 57.36, with the RSI for the last a single of trading hit 55.07, and the three-weeks RSI is set at 59.02 for International Business Machines Corp. [IBM]. The present Moving Average for the last 50 days of trading for this stock 183.02, while it was recorded at 193.25 for the last single week of trading, and 154.79 for the last 200 days.
International Business Machines Corp. [IBM]: Deeper insight into the 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 analysis for International Business Machines Corp. [IBM]
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 5.10%.
Insider trade positions for International Business Machines Corp. [IBM]
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%.
