70/100BInternational Business Machines stock forecast 2026–2030What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for International Business Machines is 272.33, 9.7% above the current price of 248.32. Their targets range from 175.00 to 350.00.
Of the 17 firms that rated International Business Machines in the past 12 months, 11 rate it buy or strong buy, 5 hold and 1 sell or strong sell (each firm at its latest rating): a Buy consensus.
Analysts' 1-year price targets range from 175.00 to 350.00, with an average of 272.33.
| Buy | 11 | |
| Hold | 5 | |
| Sell | 1 |
12-month price target
| Highest target | 350.00 |
| Average target | 272.33 |
| Lowest target | 175.00 |
| Current price | 248.32 |
International Business Machines price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their International Business Machines price target and rating?
How analysts rate International Business Machines, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
11 of 17 firms rate it buy now, against 5 of 11 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
International Business Machines analyst upgrades, downgrades and price targets
The latest rating change came on 14 July 2026, when HSBC downgraded International Business Machines from Hold to Reduce. Its price target is 191.00, from 231.00. The most recent new target came from Susquehanna on 6 November 2026: 275.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 6 Nov 2026 | Susquehanna | — | 256.00 → 275.00 | +7.4% | 247.11 |
| 22 Oct 2026 | BMO Capital | Reiterated · Market Perform | 230.00 → 265.00 | +15.2% | 248.85 |
| 22 Oct 2026 | Truist Financial | — | 240.00 → 260.00 | +8.3% | 246.58 |
| 22 Oct 2026 | Stifel Nicolaus David Grossman | Reiterated · Buy | 235.00 → 260.00 | +10.6% | 251.46 |
| 22 Oct 2026 | Susquehanna | Reiterated · Neutral | 235.00 → 256.00 | +8.9% | 251.46 |
| 22 Oct 2026 | Goldman Sachs | — | 270.00 → 300.00 | +11.1% | 251.46 |
| 22 Oct 2026 | UBS David Vogt | Reiterated · Neutral | 345.00 → 243.00 | -29.6% | 251.46 |
| 22 Oct 2026 | Robert W. Baird | — | 230.00 → 260.00 | +13.0% | 251.46 |
| 22 Oct 2026 | Morgan Stanley | Reiterated · Equal Weight | 190.00 → 240.00 | +26.3% | 251.46 |
| 22 Oct 2026 | Barclays Raimo Lenschow | Reiterated · Overweight | 262.00 → 277.00 | +5.7% | 251.46 |
| 22 Oct 2026 | Jefferies Brent Thill | Reiterated · Buy | 260.00 → 280.00 | +7.7% | 251.46 |
| 9 Oct 2026 | Truist Financial Arvind Ramnani | — | 240.00 | — | 226.61 |
| 31 Aug 2026 | Susquehanna James Friedman | Reiterated · Neutral | 225.00 → 235.00 | +4.4% | 233.51 |
| 24 Jul 2026 | Susquehanna James Friedman | Reiterated · Neutral | 303.00 → 225.00 | -25.7% | 211.99 |
| 23 Jul 2026 | BMO Capital | Reiterated · Market Perform | 270.00 → 230.00 | -14.8% | 203.62 |
| 23 Jul 2026 | Goldman Sachs | — | 270.00 | — | 205.77 |
| 23 Jul 2026 | Morgan Stanley | Reiterated · Equal Weight | 293.00 → 190.00 | -35.2% | 205.77 |
| 23 Jul 2026 | Barclays | Reiterated · Overweight | 288.00 → 262.00 | -9.0% | 205.77 |
| 21 Jul 2026 | Robert W. Baird | — | 230.00 | — | 210.50 |
| 21 Jul 2026 | RBC Capital Matthew Swanson | — | 330.00 → 270.00 | -18.2% | 210.66 |
| 21 Jul 2026 | Barclays Raimo Lenschow | Reiterated · Overweight | 350.00 → 288.00 | -17.7% | 213.00 |
| 21 Jul 2026 | Jefferies Brent Thill | Reiterated · Buy | 320.00 → 260.00 | -18.8% | 213.00 |
| 20 Jul 2026 | Stifel Nicolaus David Grossman | Reiterated · Buy | 290.00 → 235.00 | -19.0% | 212.67 |
| 16 Jul 2026 | HSBC Abhishek Shukla | — | 191.00 → 175.00 | -8.4% | 214.05 |
| 16 Jul 2026 | Argus Research Jim Kelleher | Reiterated · Buy | 360.00 → 280.00 | -22.2% | 210.50 |
| 14 Jul 2026 | Oppenheimer | Reiterated · Outperform | 320.00 → 350.00 | +9.4% | 220.02 |
| 14 Jul 2026 | Morgan Stanley | Reiterated · Equal Weight | 267.00 → 293.00 | +9.7% | 290.23 |
| 14 Jul 2026 | HSBC | Downgraded · Hold → Reduce | 231.00 → 191.00 | -17.3% | 290.23 |
| 10 Jul 2026 | Susquehanna | — | 303.00 | — | 295.30 |
| 23 Jun 2026 | Morgan Stanley | Reiterated · Equal Weight | 225.00 → 267.00 | +18.7% | 252.22 |
| 23 Jun 2026 | JP Morgan | Upgraded · Neutral → Overweight | — | — | — |
| 2 Jun 2026 | Wedbush | — | 320.00 → 350.00 | +9.4% | 320.42 |
| 1 Jun 2026 | Barclays Raimo Lenschow | — | 350.00 | — | 297.80 |
| 22 May 2026 | Stifel Nicolaus David Grossman | — | 340.00 → 290.00 | -14.7% | 252.97 |
| 28 Apr 2026 | HSBC | Upgraded · Reduce → Hold | 231.00 | — | 228.05 |
| 23 Apr 2026 | Morgan Stanley | Reiterated · Equal Weight | 215.00 → 225.00 | +4.7% | 226.53 |
| 23 Apr 2026 | BMO Capital | Reiterated · Market Perform | 350.00 → 270.00 | -22.9% | 224.71 |
| 23 Apr 2026 | Wedbush Daniel Ives | Reiterated · Outperform | 340.00 → 320.00 | -5.9% | 251.86 |
| 20 Apr 2026 | Jefferies | Reiterated · Buy | 370.00 → 320.00 | -13.5% | 253.47 |
| 17 Apr 2026 | RBC Capital Matthew Swanson | Reiterated · Outperform | 361.00 → 330.00 | -8.6% | 253.25 |
| 16 Apr 2026 | Oppenheimer | Reiterated · Outperform | 380.00 → 320.00 | -15.8% | 247.37 |
| 14 Apr 2026 | Morgan Stanley Erik Woodring | — | 304.00 → 215.00 | -29.3% | 237.82 |
| 25 Feb 2026 | UBS | Upgraded · Sell → Neutral | — | — | — |
| 30 Jan 2026 | Argus Research | — | 360.00 | — | 304.06 |
| 29 Jan 2026 | UBS | Reiterated · Sell | 317.00 → 345.00 | +8.8% | 303.99 |
| 29 Jan 2026 | RBC Capital Matthew Swanson | Reiterated · Outperform | 350.00 → 361.00 | +3.1% | 310.87 |
| 29 Jan 2026 | Oppenheimer Param Singh | — | 360.00 → 380.00 | +5.6% | 314.15 |
| 29 Jan 2026 | Stifel Nicolaus | Reiterated · Buy | 325.00 → 340.00 | +4.6% | 314.44 |
| 29 Jan 2026 | Evercore ISI | Reiterated · Outperform | 330.00 → 345.00 | +4.5% | 313.64 |
| 29 Jan 2026 | Wedbush Daniel Ives | Reiterated · Outperform | 340.00 | — | 294.16 |
International Business Machines EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect International Business Machines's EPS to grow 9.1% a year until 2028, slower than over the last 5 years (13.4% a year) and the last 3 years (83.8%).
Analysts expect International Business Machines's revenue to grow 4.7% a year until 2028, about as fast as over the last 5 years (4.1% a year) and the last 3 years (3.7%).
Revenue
EPS
Does International Business Machines beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 5.5% off the result, either way, and their revenue estimate 1.3%, over the last 12 quarters.
- EPS beats
- 116 / 135
- Revenue beats
- 96 / 120
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +5.4%
- Since
- April 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 21 Oct 2026 | 2.85 | 2.95 | +3.5% | 16.82B | 17.10B | +1.7% |
| Q2 FY2026 | 22 Jul 2026 | 2.95 | 2.93 | -0.7% | 17.46B | 17.16B | -1.7% |
| Q1 FY2026 | 22 Apr 2026 | 1.81 | 1.91 | +5.5% | 15.63B | 15.92B | +1.8% |
| Q4 FY2025 | 28 Jan 2026 | 4.31 | 4.52 | +4.9% | 19.19B | 19.69B | +2.6% |
| Q3 FY2025 | 22 Oct 2025 | 2.45 | 2.65 | +8.2% | 16.09B | 16.33B | +1.5% |
| Q2 FY2025 | 23 Jul 2025 | 2.65 | 2.80 | +5.7% | 16.59B | 16.98B | +2.3% |
| Q1 FY2025 | 23 Apr 2025 | 1.42 | 1.60 | +12.7% | 14.39B | 14.54B | +1.0% |
| Q4 FY2024 | 29 Jan 2025 | 3.77 | 3.92 | +4.0% | 17.56B | 17.55B | -0.0% |
| Q3 FY2024 | 23 Oct 2024 | 2.22 | 2.30 | +3.6% | 15.08B | 14.97B | -0.7% |
| Q2 FY2024 | 24 Jul 2024 | 2.20 | 2.43 | +10.5% | 15.62B | 15.77B | +0.9% |
| Q1 FY2024 | 24 Apr 2024 | 1.60 | 1.68 | +5.0% | 14.55B | 14.46B | -0.6% |
| Q4 FY2023 | 24 Jan 2024 | 3.78 | 3.87 | +2.4% | 17.30B | 17.38B | +0.5% |
International Business Machines stock price 2026–2030: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If International Business Machines's earnings keep growing at the 7.8% a year analysts expect to FY2028, it would earn about 16.86 a share in FY2030. At the P/E it has traded at over the last five years (19.9 to 33.7) that is 335.15 to 567.75 a share, or 409.25 at its average P/E of 24.3. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 12.41 | 246.68 | 301.22 | 417.89 |
| FY2027 | 13.26 | 263.56 | 321.83 | 446.48 |
| FY2028 | 14.51 | 288.25 | 351.99 | 488.31 |
| FY2029 (extrapolated) | 15.64 | 310.82 | 379.54 | 526.54 |
| FY2030 (extrapolated) | 16.86 | 335.15 | 409.25 | 567.75 |
Each year's EPS is the analysts' consensus to FY2028; the years after grow 7.8% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (19.9, 24.3, 33.7).
Is International Business Machines stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
International Business Machines's P/E of 20.9 is below the middle of its 5-year range (17.9 to 107.6, median 25.5). Analysts expect slower growth than in recent years, so the low P/E may be deserved. Buyers pay about the usual price for each point of growth: a PEG of 2.3 on expected growth against 1.9 on its median P/E and past five years' growth. Fair value is not a reliable guide for International Business Machines: analysts expect EPS growth of 9.1% a year against 48.6% before, so its past P/E no longer describes it. Its forward P/E, on the consensus for FY2026, is 20.0.
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 20.87
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 25.52
- Five-year P/E range
- 17.9 – 107.6
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 20.00
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 2.67
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +9.7%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 28.410 | 56.5734Price 28.4196 | +99.1% | |
| 64.525 | 128.0462Price 64.53185 | +98.4% | |
| 153.725 | 297.58169Price 153.73471 | +93.6% | |
| 243.002 | 464.73205Price 243.00627 | +91.2% | |
| 160.085 | 305.52160Price 160.09396 | +90.8% | |
| 37.565 | 71.4258Price 37.57193 | +90.1% | |
| 160.240 | 300.15225Price 160.24375 | +87.3% |
Furthest below the fair value on each stock's page, updated every day.