International Business Machines Corporation (NYSE:IBM) traded today at a new 52-week high of $150.20. So far today approximately 1.4 million shares have been exchanged, as compared to an average 30-day volume of 4.6 million shares.
IBM looks to be a part of every aspect of an enterprise’s IT needs. The company primarily sells infrastructure services (37% of revenue), software (29% of revenue), IT services (23% of revenue) and hardware (8% of revenues). IBM operates in 175 countries and employs approximately 350,000 people. The company has a robust roster of 80,000 business partners to service 5,200 clients–which includes 95% of all Fortune 500. While IBM is a B2B company, IBM’s outward impact is substantial. For example, IBM manages 90% of all credit card transactions globally and is responsible for 50% of all wireless connections in the world.
There is potential upside of 2.9% for shares of International Business Machines Corporation based on a current price of $150.14 and an average consensus analyst price target of $154.50.
In the past 52 weeks, shares of International Business Machines Corporation have traded between a low of $105.92 and a high of $150.20 and is now at $150.14, which is 42% above that low price.
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