The IBM stock price is loitering near its all-time high as demand for its AI solutions continue rising. It was trading at $230 on Thursday, a few points below the all-time high of $240, and about 27% higher than where it was on the same day in 2024.

JPMorgan analyst Brian Essex adjusted the price target for IBM (NYSE:IBM) shares to $244, up from the previous $233, while maintaining a Neutral rating on the stock. Currently trading at $228.63, IBM shares are near their 52-week high of $239.

IBM saw a remarkable 12% surge in its stock price on Thursday, driven by a strong fourth-quarter performance that showcased the company’s impressive growth in artificial intelligence (AI). This boost marked IBM’s best day since July 2000,

International Business Machines Corp. gained in early trading after projecting strong revenue growth in the new fiscal year and a jump in AI-related bookings.

KEY TAKEAWAYS IBM shares are jumping nearly 8% in premarket trading Thursday, a day after the company posted results that topped analysts' estimates as its artificial intelligence-enabled business surged.