IBM Gears Up For Q2 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

International Business Machines Corporation IBM will release its fiscal third quarter 2024 financial results, after the closing bell on Wednesday, July 24.

Analysts expect the Armonk, New York-based company to report quarterly earnings at $2.19 per share, up from $2.18 per share in the year-ago period. IBM is expected to post revenue of $15.62 billion, compared to $15.57 billion a year ago, according to data from Benzinga Pro.

On July 17, IBM disclosed securing a five-year contract with $26 million in initial funding from the U.S. Agency for International Development (USAID).

IBM shares slipped 0.03% to close at $184.10 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Exane BNP Paribas analyst Stefan Slowinski initiated coverage on the stock with an Underperform rating and a price target of $145 on May 2. This analyst has an accuracy rate of 74%.
• Morgan Stanley analyst Erik Woodring maintained an Equal-Weight rating and cut the price target from $186 to $179 on April 26. This analyst has an accuracy rate of 65%.
• JP Morgan analyst Brian Essex maintained a Neutral rating and cut the price target from $190 to $185 on April 25. This analyst has an accuracy rate of 66%.
• BMO Capital analyst Keith Bachman maintained a Market Perform rating and cut the price target from $210 to $190 on April 25. This analyst has an accuracy rate of 80%.
• Jefferies analyst Brent Thill maintained a Hold rating and cut the price target from $210 to $190 on April 25. This analyst has an accuracy rate of 79%.

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