IBM
IBM posted third-quarter revenue of $17.10 billion, beating the consensus estimate of $16.82 billion, according to Benzinga Pro. The company reported adjusted earnings of $2.95 per share for the quarter, beating estimates of $2.86 per share.
"Disciplined execution throughout the quarter drove accelerated revenue growth and strong free cash flow. Our clients are now deploying Super Intelligence in ways that transform entire operating models, instead of simply addressing narrow or novel problems," said Arvind Krishna, chairman, president and CEO of IBM.
IBM continues to expect full-year 2026 revenue of $70.24 billion to $70.91 billion versus estimates of $70.34 billion. Free cash flow is now expected to increase by "more than" $1 billion year-over-year, up from prior guidance of "about" $1 billion.
IBM shares fell 0.8% to trade at $249.39 on Thursday.
These analysts made changes to their price targets on IBM following earnings announcement.
- Baird analyst Rob Oliver maintained the stock with a Neutral and raised the price target from $230 to $260.
- Susquehanna analyst James Friedman maintained the stock with a Neutral and raised the price target from $235 to $256.
- Stifel analyst David Grossman maintained the stock with a Buy and raised the price target from $235 to $260.
- JP Morgan analyst Brian Essex maintained the stock with an Overweight rating and raised the price target from $250 to $269.
- Barclays analyst Raimo Lenschow maintained the stock with an Overweight rating and raised the price target from $262 to $277.
- BMO Capital analyst Keith Bachman maintained the stock with a Market Perform and raised the price target from $230 to $265.
- Morgan Stanley analyst Erik Woodring maintained the stock with an Equal-Weight rating and raised the price target from $238 to $240
