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Strategies & Market Trends : Technical analysis for shorts & longs

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Tech

IBM stock closes in red after six days of gains

May 23, 2024 4:02 PM ET| International Business Machines Corporation (IBM) Stock|By: Ahmed Farhath, SA News Editor

David Ramos/Getty Images News

International Business Machines (NYSE: IBM) closed in red and snapped a six-day winning streak after having gained 3.2% over the last six trading sessions.
Shares of the company closed -1.72% at $170.70 on Thursday, below its 52-week high of $199.18. The stock has gained 33.9% in value in the last 12 months.
So far, IBM has closed in the red for five trading days in May. In April, it closed negatively for 13 out of 22 sessions.
Seeking Alpha's Quant rating system has given IBM a "Hold" rating with a score of 3.24 out of 5.
The Armonk, New York-based company has been graded A+ for profitability and B for momentum, while its growth and valuation prospects have been graded D- and B, respectively.
Turning to the Wall Street community, five analysts have given IBM a "Strong Buy," while two are "Buy" on the stock. Nine analysts have given the stock a "Hold" recommendation, two have rated it "Sell," and two have rated it "Strong Sell."
Seeking Alpha analysts, on average, see the stock as a "Buy." SA contributor JR Research wrote in an April 26 report, "IBM has dropped toward levels last seen in January 2024, digesting three months of gains. There could still be downside volatility toward the $155 zone before I expect a more robust consolidation phase. However, the risk/reward has improved even as IBM needs to justify the $6.4B acquisition in enterprise value for HCP. With no anticipated dilution, IBM has significant flexibility in funding the deal with cash on hand of $19.3B. IBM management also guided for $12B in FCF for 2024, above last year's $11.2B. Therefore, I believe the market's pessimism seems overstated as investors assess the trajectory of HCP's growth thesis. With IBM stock clearly in a medium-term uptrend, I'm confident that the battering represents a solid opportunity for investors to add more shares."

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About IBM Stock

SymbolLast Price% Chg

IBM	170.67	-1.74%
Post	170.90	0.13%

May 20May 21May 22May 23165170175

Market Cap

$159.55B

PE (FWD)

17.38

Yield

3.83%

Rev Growth (YoY)

2.45%

Prev. Close

$173.69

Compare to Peers

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