International Business Machines (IBM): New Buy Recommendation for This Technology Giant

Evercore ISI analyst Amit Daryanani maintained a Buy rating on International Business Machines today and set a price target of $345.00.

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Daryanani covers the Technology sector, focusing on stocks such as Apple, International Business Machines, and Dell Technologies. According to TipRanks, Daryanani has an average return of 21.6% and a 61.62% success rate on recommended stocks.

In addition to Evercore ISI, International Business Machines also received a Buy from TipRanks – OpenAI’s OpenAI Information Technology Services in a report issued yesterday. However, on the same day, TipRanks – Anthropic reiterated a Hold rating on International Business Machines (NYSE: IBM).

Based on International Business Machines’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $19.69 billion and a net profit of $5.6 billion. In comparison, last year the company earned a revenue of $17.55 billion and had a net profit of $2.91 billion

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IBM in relation to earlier this year. Last month, David Farr, a Director at IBM bought 1,000.00 shares for a total of $304,000.00.