Argus Forecasts Strong Price Appreciation for Dell Technologies (NYSE:DELL) Stock

Dell Technologies (NYSE:DELL) had its price objective hoisted by stock analysts at Argus from $150.00 to $200.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the technology company’s stock. Argus’ price target points to a potential upside of 32.74% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Mizuho lifted their target price on Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI lifted their target price on Dell Technologies from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, August 15th. Sanford C. Bernstein lifted their target price on Dell Technologies from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company raised their price target on Dell Technologies from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, TD Cowen raised their price target on Dell Technologies from $125.00 to $130.00 and gave the company a “hold” rating in a research note on Friday, August 29th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Dell Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $160.53.

Dell Technologies Stock Down 3.4%

Shares of DELL opened at $150.67 on Thursday. Dell Technologies has a 52-week low of $66.25 and a 52-week high of $166.10. The company has a market cap of $101.31 billion, a PE ratio of 22.16, a P/E/G ratio of 1.06 and a beta of 1.05. The business has a fifty day moving average of $133.98 and a 200 day moving average of $116.82.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%.The business had revenue of $26.43 billion during the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, research analysts anticipate that Dell Technologies will post 6.93 earnings per share for the current fiscal year.

Insider Activity

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of Dell Technologies stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $135.98, for a total value of $112,183,364.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of Dell Technologies stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $132.32, for a total value of $74,760,800.00. The disclosure for this sale can be found here. Insiders sold 4,734,418 shares of company stock worth $666,089,211 in the last quarter. 42.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Dell Technologies

Large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC grew its stake in shares of Dell Technologies by 25.9% during the first quarter. Exchange Traded Concepts LLC now owns 2,460 shares of the technology company’s stock worth $224,000 after acquiring an additional 506 shares during the last quarter. First Hawaiian Bank grew its stake in shares of Dell Technologies by 67.1% during the first quarter. First Hawaiian Bank now owns 34,878 shares of the technology company’s stock worth $3,179,000 after acquiring an additional 14,010 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in shares of Dell Technologies during the second quarter worth about $8,869,000. Wealthcare Advisory Partners LLC grew its stake in shares of Dell Technologies by 44.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,612 shares of the technology company’s stock worth $238,000 after acquiring an additional 809 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Dell Technologies by 113.3% during the first quarter. Mather Group LLC. now owns 1,043 shares of the technology company’s stock worth $95,000 after acquiring an additional 554 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

About Dell Technologies

Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).