The Vetr crowd on Thursday downgraded its rating on International Business Machines Corporation IBM from 3.5 stars (Buy), issued 56 days ago, to 3 stars (Hold). Crowd sentiment at the time of the downgrade was generally cautious, with 70 percent of Vetr user ratings bearish.
The Vetr downgrade comes a day after the tech company reported better-than-expected Q3 earnings. IBM posted $19.153 billion in sales over the previous three months, topping analyst estimates by more than 3 percent.
Shares of IBM jumped 10 percent to a high of $161.15, and maintained near that level a day later. IBM closed Thursday's session at $160.90, up slightly from Wednesday's close.
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Currently, the Vetr crowd's average price target on IBM is down at $160.68, which is below the average analyst price target of $166.05. Less than 2 percent of Vetr users are holding IBM in their watch-lists.
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