Dell Technologies (NYSE:DELL) Price Target Lowered to $56.00 at Morgan Stanley

Dell Technologies (NYSE:DELLGet Rating) had its price target decreased by research analysts at Morgan Stanley from $60.00 to $56.00 in a research note issued to investors on Friday, The Fly reports. Morgan Stanley’s price target would suggest a potential upside of 27.48% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Barclays cut their price objective on shares of Dell Technologies from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Thursday, March 31st. Citigroup cut their price target on Dell Technologies from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday. KGI Securities began coverage on Dell Technologies in a research note on Tuesday, April 19th. They set a “neutral” rating for the company. Evercore ISI raised Dell Technologies from an “in-line” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Tuesday, March 8th. Finally, TheStreet lowered Dell Technologies from a “b” rating to a “c+” rating in a research report on Friday, February 25th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $71.14.

Shares of DELL opened at $43.93 on Friday. The stock’s fifty day simple moving average is $47.55 and its 200-day simple moving average is $53.31. The firm has a market capitalization of $33.40 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 0.62 and a beta of 0.90. Dell Technologies has a 12-month low of $38.33 and a 12-month high of $61.54. The company has a quick ratio of 0.70, a current ratio of 0.80 and a debt-to-equity ratio of 2.23.

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

In other Dell Technologies news, insider Howard D. Elias sold 67,613 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $54.67, for a total value of $3,696,402.71. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider William F. Scannell sold 124,718 shares of the company’s stock in a transaction that occurred on Thursday, March 24th. The stock was 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. In the last ninety days, insiders sold 327,907 shares of company stock worth $17,145,029. Insiders own 47.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. bought a new stake in Dell Technologies during the 1st quarter worth about $10,033,000. Geode Capital Management LLC increased its position in shares of Dell Technologies by 8.1% in the third quarter. Geode Capital Management LLC now owns 2,758,968 shares of the technology company’s stock valued at $286,496,000 after acquiring an additional 206,045 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Dell Technologies by 1.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 17,419 shares of the technology company’s stock valued at $1,812,000 after purchasing an additional 306 shares during the last quarter. Assetmark Inc. bought a new position in Dell Technologies in the third quarter valued at approximately $3,572,000. Finally, Macquarie Group Ltd. increased its position in shares of Dell Technologies by 16.9% during the 3rd quarter. Macquarie Group Ltd. now owns 10,107 shares of the technology company’s stock worth $1,051,000 after purchasing an additional 1,458 shares during the last quarter. Institutional investors and hedge funds own 30.05% of the company’s stock.

Dell Technologies Company Profile (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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