International Business Machines Corporation — Wall Street Analyst Estimates & Price Targets

IBM

NYSETechnologyInformation Technology ServicesCIK 0000051143ibm.comAbout IBM

Last close · Oct 16, 2026232.14−1.98 (−0.85%)

Market cap$218.7B

10 firms' latest targets, last 90 days: median $237.50 ($190.00–$270.00), 2% above the last close.

Price and published targets

daily close, 12 months · each dot a target, a firm's latest darker

Each firm's latest target

last 90 days · 10 firms

Date	Firm	Target	Previous	Change	Vs price then	Vs price now
2026-10-09	Truist	$240.00	—	—	+6%	+3%
2026-08-31	Susquehanna	$235.00	$225.00	▲ 4%	+1%	+1%
2026-07-23	BMO Capital	$230.00	$270.00	▼ 15%	+13%	-1%
2026-07-23	Goldman Sachs	$270.00	—	—	+31%	+16%
2026-07-23	Morgan Stanley	$190.00	$293.00	▼ 35%	-8%	-18%
2026-07-23	Barclays	$262.00	$288.00	▼ 9%	+27%	+13%
2026-07-21	Baird	$230.00	—	—	+9%	-1%
2026-07-21	RBC Capital	$270.00	$330.00	▼ 18%	+28%	+16%
2026-07-21	Jefferies	$260.00	$320.00	▼ 19%	+22%	+12%
2026-07-20	Stifel	$235.00	$290.00	▼ 19%	+10%	+1%

Consensus estimates

revenue and EPS by fiscal year · reported years marked

FY	Revenue	YoY	EPS	YoY	Revenue range	EPS range	Analysts
2023reported	$61.9B	+2%	$8.14	+352%	est. $61.8B+0%	est. $9.54	11
2024reported	$62.8B	+1%	$6.43	-21%	est. $62.8B+0%	est. $10.20	11
2025reported	$67.5B	+8%	$11.17	+74%	est. $67.0B+1%	est. $11.36	14
2026	$70.4B	+4%	$12.31	+8%	$70.1B–$70.7B	$12.06–$12.61	18
2027	$73.1B	+4%	$13.15	+7%	$72.0B–$74.6B	$12.72–$13.81	18
2028	$76.9B	+5%	$14.34	+9%	$75.1B–$79.2B	$12.84–$16.20	15
2029	$81.0B	+5%	$13.91	-3%	$79.7B–$82.2B	$13.63–$14.19	10
2030	$81.5B	+1%	$12.56	-10%	$80.2B–$82.7B	$12.31–$12.81	7

A reported year shows the company's figures, with the consensus beside it (revenue against it in %). Reported EPS is GAAP diluted; the analysts' EPS usually leaves items such as stock compensation out, so the two are not like for like. Faded: a year the valuation models do not read — they read the first 3, and a later one only while 10 or more analysts cover every year up to it — or one under 5 analysts.

The analysts at a glance

$237.50median target, 2% above the last close

Firms with a target · last 90 days: 10
Lowest – highest target: $190.00 – $270.00
Current grades of 16 firms: positive / neutral / negative: 11 / 4 / 1
Upgrades / downgrades · 12 months: 4 / 1
Consensus revenue growth · next 3 FY: +4% a year

Current grades

each firm's latest · 16 firms

As of	Firm	Grade
2026-10-15	Morgan Stanley	“Equal Weight”
2026-10-13	RBC Capital	“Outperform”
2026-08-31	Susquehanna	“Neutral”
2026-07-24	Citigroup	“Buy”
2026-07-23	BMO Capital	“Market Perform”
2026-07-23	Barclays	“Overweight”
2026-07-21	Jefferies	“Buy”
2026-07-20	Stifel	“Buy”
2026-07-17	J.P. Morgan	“Overweight”
2026-07-16	Evercore ISI	“Outperform”

6 more

2026-07-16	Argus Research	“Buy”
2026-07-14	Oppenheimer	“Outperform”
2026-07-14	HSBC	“Reduce”
2026-07-06	Bank of America	“Buy”
2026-05-29	Wedbush	“Outperform”
2026-02-25	UBS	“Neutral”

Grade changes

last 24 months · 5

Date	Firm	Grade
2026-07-14	HSBC	“Hold” → “Reduce” downgrade
2026-06-23	J.P. Morgan	“Neutral” → “Overweight” upgrade
2026-04-28	HSBC	“Reduce” → “Hold” upgrade
2026-02-25	UBS	“Sell” → “Neutral” upgrade
2026-01-05	Jefferies	“Hold” → “Buy” upgrade

45 older than 24 months

2024-01-19	Evercore ISI	“In Line” → “Outperform” upgrade
2024-01-05	Societe Generale	“Hold” → “Sell” downgrade
2023-02-06	Edward Jones	“Buy” → “Hold” downgrade
2023-01-19	MoffettNathanson	“Underperform” → “Market Perform” upgrade
2023-01-18	Morgan Stanley	“Overweight” → “Equal Weight” downgrade
2022-04-14	Morgan Stanley	“Equal Weight” → “Overweight” upgrade
2022-01-11	UBS	“Neutral” → “Sell” downgrade
2021-07-20	Societe Generale	“Sell” → “Hold” upgrade
2020-07-22	Argus Research	“Hold” → “Buy” upgrade
2020-02-03	Edward Jones	“Hold” → “Buy” upgrade
2020-01-17	Morgan Stanley	“Overweight” → “Equal Weight” downgrade
2020-01-13	Evercore ISI	“Outperform” → “In Line” downgrade
2019-10-21	UBS	“Buy” → “Neutral” downgrade
2018-10-18	Argus Research	“Buy” → “Hold” downgrade
2018-09-26	UBS	“Neutral” → “Buy” upgrade
2018-05-05	Argus	“Hold” → “Buy” upgrade
2018-01-17	Barclays	“Underweight” → “Overweight” upgrade
2018-01-03	RBC Capital	“Sector Perform” → “Outperform” upgrade
2017-07-19	Standpoint Research	“Hold” → “Buy” upgrade
2017-05-19	Pacific Crest	“Sector Weight” → “Equal Weight” revised
2016-11-10	Bank of America	“Neutral” → “Buy” upgrade
2016-09-26	Societe Generale	“Sell” → “Hold” upgrade
2016-07-25	Standpoint Research	“Buy” → “Hold” downgrade
2016-02-18	Morgan Stanley	“Equal Weight” → “Overweight” upgrade
2015-11-20	JMP Securities	“Market Perform” → “Perform” revised
2015-08-26	Argus	“Hold” → “Buy” upgrade
2015-03-02	Atlantic Equities	“Neutral” → “Underweight” downgrade
2014-10-21	Evercore ISI	“Buy” → “Hold” downgrade
2014-04-24	J. Safra Sarasin	“Buy” → “Neutral” downgrade
2014-04-15	Citigroup	“Buy” → “Neutral” downgrade
2014-04-14	Citigroup	“Buy” → “Hold” downgrade
2013-12-06	TD Cowen	“Outperform” → “Market Perform” downgrade
2013-10-18	Argus Capital	“Buy” → “Hold” downgrade
2013-10-17	UBS	“Buy” → “Neutral” downgrade
2013-10-07	Barclays	“Overweight” → “Equal Weight” downgrade
2013-09-09	S&P Capital IQ	“Buy” → “Strong Buy” upgrade
2013-08-06	Credit Suisse	“Neutral” → “Underperform” downgrade
2013-07-09	Goldman Sachs	“Buy” → “Neutral” downgrade
2013-04-10	UBS	“Neutral” → “Buy” upgrade
2013-01-23	Societe Generale	“Sell” → “Hold” upgrade
2013-01-14	J.P. Morgan	“Overweight” → “Neutral” downgrade
2012-10-17	Societe Generale	“Hold” → “Sell” downgrade
2012-10-17	Janney Montgomery Scott	“Buy” → “Neutral” downgrade
2012-09-04	Barclays	“Equal Weight” → “Overweight” upgrade
2012-04-04	Bank of America	“Buy” → “Neutral” downgrade

Targets, grades and estimates are quoted from third parties (via Financial Modeling Prep) and are theirs, not ours; each target links to the report it was published in. A firm counts once, at its latest target or grade.