FMP
IBM Stock Gains 3% Following Q2 Earnings Report
Jul 20, 2023 9:08 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
IBM (NYSE:IBM) shares rose more than 3% intra-day today after the company reported its Q2 earnings results, with EPS of $2.18 coming in better than the Street estimate of $2.02. However, revenue of $15.5 billion came in worse than the consensus estimate of $15.58 billion.
The company provided its fiscal 2023 outlook, expecting revenues to grow in the range of 3-5%.
BofA Securities analysts reaffirmed their Buy rating on IBM and raised their price target to $160.00 from $152.00, stating that they believe the positive momentum in IBM's business, including revenue growth and improvement in free cash flow, will persist. The analysts highlighted that IBM possesses a defensive portfolio, an appealing dividend yield, and an AI portfolio that is not fully recognized or valued by the market.
Other Blogs
Nov 22, 2024 5:08 AM - Parth Sanghvi
Fundamental Analysis: Principles, Types, and How to Use It
Fundamental analysis is one of the most essential tools for investors and analysts alike, helping them assess the intrinsic value of a stock, company, or even an entire market. It focuses on the financial health and economic position of a company, often using key data such as earnings, expenses, ass...
Dec 17, 2024 8:58 AM - Sanzhi Kobzhan
Examining Tesla’s Financial Health Using FinancialModelingPrep’s Ratios API
Tesla, one of the world’s most talked-about electric vehicle manufacturers, attracts a lot of attention from investors and market watchers. By examining a snapshot of Tesla’s financial ratios—such as those provided by FinancialModelingPrep’s Ratios API—we can get a clearer picture of the company’s f...
Dec 22, 2024 7:59 AM - Sanzhi Kobzhan
Two great Software Platform Stocks Similar to Palantir (PLTR)
When it comes to cutting-edge software and data analytics, Palantir Technologies (NYSE: PLTR) is often front and center. But for many investors, it’s important to consider alternative or complementary stocks in the same sector that may offer robust growth potential. As PLTR looks expensive (overvalu...
