IBM (IBM) closed at $128.58 in the latest trading session, marking a +0.76% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.65%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 1.05%.Prior to today's trading, shares of the technology and consulting company had gained 5.54% over the past month. This has outpaced the Computer and Technology sector's loss of 6.78% and the S&P 500's gain of 0.36% in that time.Wall Street will be looking for positivity from IBM as it approaches its next earnings report date. In that report, analysts expect IBM to post earnings of $1.66 per share. This would mark a year-over-year decline of 9.78%. Our most recent consensus estimate is calling for quarterly revenue of $17.44 billion, down 0.73% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.17 per share and revenue of $74.38 billion. These totals would mark changes of +28.84% and +1.03%, respectively, from last year.Any recent changes to analyst estimates for IBM should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. IBM is currently sporting a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that IBM has a Forward P/E ratio of 11.43 right now. This valuation marks a discount compared to its industry's average Forward P/E of 47.49.It is also worth noting that IBM currently has a PEG ratio of 1.46. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Integrated Systems was holding an average PEG ratio of 1.46 at yesterday's closing price.The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 19% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report International Business Machines Corporation (IBM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research