In the latest trading session, IBM (IBM) closed at $130.55, marking a +1.28% move from the previous day. This move outpaced the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.23%.Prior to today's trading, shares of the technology and consulting company had gained 6.77% over the past month. This has outpaced the Computer and Technology sector's loss of 6.07% and the S&P 500's gain of 0.18% in that time.IBM will be looking to display strength as it nears its next earnings release. On that day, IBM is projected to report earnings of $1.66 per share, which would represent a year-over-year decline of 9.78%. Meanwhile, our latest consensus estimate is calling for revenue of $17.44 billion, down 0.73% from the prior-year quarter.For the full year, our Zacks Consensus Estimates are projecting earnings of $11.17 per share and revenue of $74.38 billion, which would represent changes of +28.84% and +1.03%, respectively, from the prior year.Investors might also notice recent changes to analyst estimates for IBM. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.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 a Zacks Rank #3 (Hold).Valuation is also important, so investors should note that IBM has a Forward P/E ratio of 11.54 right now. Its industry sports an average Forward P/E of 47.93, so we one might conclude that IBM is trading at a discount comparatively.It is also worth noting that IBM currently has a PEG ratio of 1.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Integrated Systems industry currently had an average PEG ratio of 1.48 as of yesterday's close.The Computer - Integrated Systems industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 21% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many 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.