IBM stock: JPMorgan raises target for IBM stock from USD 250.00 to USD 269.00

IBM (ISIN US4592001014) drew a higher valuation target from JPMorgan on October 22, 2026, while its third-quarter results supplied the operating backdrop. According to Benzinga, JPMorgan analyst Brian Essex raised the target from USD 250.00 to USD 269.00 and maintained an Overweight rating. At Lang & Schwarz, IBM was trading at EUR 222.75 on October 23, 2026 at 5:30 p.m. CEST, up 0.07 percent versus the Xetra close of October 22, 2026 at EUR 222.60.

Revenue accelerates in the third quarter

IBM reported USD 17.10 billion in third-quarter 2026 revenue on October 21, 2026, up 5.00 percent from USD 16.33 billion in the third quarter of 2025. Software revenue rose 8.00 percent to USD 7.80 billion, while infrastructure revenue increased 4.00 percent to USD 3.70 billion. Consulting revenue was USD 5.30 billion, broadly unchanged from the prior-year quarter.

The results also showed a split between accounting measures. GAAP net income reached USD 2.19 billion, compared with USD 1.74 billion a year earlier, while diluted GAAP earnings per share rose to USD 2.30 from USD 1.84. IBM reported operating earnings per share of USD 2.95 for the quarter, up from USD 2.65.

IBM trades inside its 52-week range

On the NYSE, IBM was trading at USD 249.61 on October 23, 2026 at 9:32 a.m. ET. Its 52-week range was USD 199.19 to USD 332.46 as of October 23, 2026, leaving the euro quotation within the equivalent primary-market range after currency adjustment. IBM's market capitalization was USD 235.2 billion, and its trailing P/E ratio was 21.44 on the same date.

What does the USD 269 target imply?

Using the NYSE price of USD 249.61 on October 23, 2026, JPMorgan's USD 269.00 target lies 7.77 percent above the price. The target is a dated analyst view rather than a company forecast, and the comparison matters because IBM's third-quarter gross profit margin was 56.80 percent, down from 57.30 percent in the prior-year quarter.

IBM also raised its full-year free cash flow outlook. The company expects free cash flow to increase by more than USD 1.00 billion year over year, while its constant-currency revenue growth outlook remains 4.00 percent to 5.00 percent for 2026, according to the October 21, 2026 release.

Stock level and investor dates

IBM's board approved a quarterly dividend of USD 1.69 per share in the October 21, 2026 release. The record date is November 10, 2026, and the payment date is December 10, 2026. The dividend decision gives the earnings figures a shareholder-return dimension, while the latest target revision adds a separate valuation reference.

IBM's valuation in perspective

The combination of USD 235.2 billion in market capitalization and a P/E of 21.44 places IBM's current valuation alongside the company's 5.00 percent third-quarter revenue growth. The key contrast is between faster software expansion and flat consulting revenue, which keeps the segment mix central to the next valuation debate.

Trading remains close to the Xetra close

IBM's EUR 222.75 quotation at Lang & Schwarz on October 23, 2026 at 5:30 p.m. CEST was EUR 0.15 above the EUR 222.60 Xetra close of October 22, 2026. The move was small, so the analyst target, quarterly revenue and November 10 record date carry more information than the daily price difference.

The further course of trading is shown by the continuously updated real-time quote of IBM stock.

IBM stock facts

• Company: International Business Machines Corporation
• ISIN: US4592001014
• Ticker: IBM
• Primary exchange: NYSE
• Price Lang & Schwarz as of October 23, 2026, 5:30 p.m. CEST: EUR 222.75
• Change versus Xetra close: plus 0.07 percent
• Xetra close October 22, 2026: EUR 222.60
• Market capitalization: USD 235.2 billion (as of October 23, 2026)
• 52-week range: USD 199.19-USD 332.46 (as of October 23, 2026)
• Sector / Industry: Information technology / IT services

Market context: Market report S&P 500.

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