International Business Machines Corp
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Information Technology : IT Services | Large Cap Value
Company profile

International Business Machines Corporation (IBM) is a technology company engaged in providing hybrid cloud and artificial intelligence (AI) solutions. It offers integrated solutions and products that use data and information technology (IT) in industries and business processes. Its segments include Software, Consulting, Infrastructure and Financing. Software segment consists of two business areas: Hybrid Platform & Solutions, which includes software to help clients operate, manage, and optimize their IT resources and business processes within hybrid, multi-cloud environments, and Transaction Processing, which includes software that supports clients’ mission-critical, on-premises workloads in various sectors. Consulting segment is engaged in business transformation, technology consulting and application operations. Infrastructure segment is engaged in hybrid infrastructure and infrastructure support. Financing segment is engaged in client financing and commercial financing business.

Closing Price
Day's Change
-0.38 (-0.26%)
B/A Size
Day's High
Day's Low

10-day average volume:

Etsy stock falls after analyst sees 'limited opportunities' for valuation upside

10:46 am ET September 20, 2022 (MarketWatch)

Shares of Etsy Inc. slumped 3.2% in morning trading Tuesday, after the BofA Securities analyst Curtis Nagle's lackluster call on the online crafts marketplace, calling the company an "eclectic, high margin" e-commerce company, but "not at a bargain price." Nagle initiated Etsy with a neutral rating and stock price target of $120, as he saw "limited opportunities" for multiple expansion in the near term. He believes the company can return to revenue growth in the high-single digit percentage range, but not until the second half of 2023. "[I]n the near-to-medium term, we are more cautious on [gross merchandise sales]/revenues re-accelerating due to tough compares (particularly 4Q holiday period) and high macro risk which could impair demand for Etsy's discretionary products," Nagle wrote in a note to clients. The stock has soared 50.1% over the past three months, but has plunged 50.6% year to date. In comparison, the S&P 500 has gained 4.9% the past three months and lost 19.1% this year.

-Tomi Kilgore


(END) Dow Jones Newswires

September 20, 2022 10:46 ET (14:46 GMT)

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