JPMorgan Chase & Co. Cuts Dell Technologies (NYSE:DELL) Price Target to $60.00

Dell Technologies (NYSE:DELLGet Rating) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $68.00 to $60.00 in a research report issued on Wednesday, The Fly reports. JPMorgan Chase & Co.‘s price target suggests a potential upside of 46.77% from the company’s previous close.

Other analysts have also recently issued reports about the company. Morgan Stanley cut Dell Technologies from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $66.00 to $60.00 in a report on Thursday, March 31st. Zacks Investment Research upgraded Dell Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Raymond James cut their price target on Dell Technologies from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Monday, February 28th. The Goldman Sachs Group cut Dell Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $68.00 to $61.00 in a report on Friday, April 1st. Finally, Barclays cut their price target on Dell Technologies from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Thursday, March 31st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Dell Technologies presently has an average rating of “Buy” and a consensus price target of $72.31.

NYSE:DELL opened at $40.88 on Wednesday. The stock has a market cap of $31.09 billion, a P/E ratio of 5.80, a price-to-earnings-growth ratio of 0.62 and a beta of 0.90. The company has a current ratio of 0.80, a quick ratio of 0.70 and a debt-to-equity ratio of 2.23. The stock’s 50-day moving average is $47.85 and its 200-day moving average is $53.46. Dell Technologies has a 1-year low of $38.33 and a 1-year high of $61.54.

Dell Technologies (NYSE:DELLGet Rating) last released its quarterly earnings results on Thursday, February 24th. The technology company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.23). Dell Technologies had a return on equity of 87.33% and a net margin of 5.20%. The firm had revenue of $27.99 billion for the quarter, compared to the consensus estimate of $27.52 billion. During the same quarter last year, the firm posted $2.70 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that Dell Technologies will post 5.53 EPS for the current year.

In related news, CAO Brunilda Rios sold 5,789 shares of the company’s stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $48.00, for a total transaction of $277,872.00. Following the completion of the sale, the chief accounting officer now owns 24,954 shares in the company, valued at $1,197,792. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William F. Scannell sold 124,718 shares of the stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $53.52, for a total value of $6,674,907.36. The disclosure for this sale can be found here. Insiders have sold 327,907 shares of company stock worth $17,145,029 over the last 90 days. 47.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of DELL. BlackRock Inc. lifted its holdings in Dell Technologies by 18.9% in the fourth quarter. BlackRock Inc. now owns 20,380,718 shares of the technology company’s stock valued at $1,144,783,000 after acquiring an additional 3,239,000 shares during the period. LSV Asset Management lifted its holdings in Dell Technologies by 149.4% in the fourth quarter. LSV Asset Management now owns 5,023,670 shares of the technology company’s stock valued at $282,180,000 after acquiring an additional 3,009,083 shares during the period. Norges Bank purchased a new stake in Dell Technologies in the fourth quarter worth about $154,105,000. Goldman Sachs Group Inc. increased its position in Dell Technologies by 80.7% in the first quarter. Goldman Sachs Group Inc. now owns 4,976,265 shares of the technology company’s stock worth $249,759,000 after buying an additional 2,222,995 shares in the last quarter. Finally, Mondrian Investment Partners LTD purchased a new stake in Dell Technologies in the fourth quarter worth about $120,446,000. 30.05% of the stock is currently owned by institutional investors.

About Dell Technologies (Get Rating)

Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers.

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