Dell Technologies (NYSE:DELL) Upgraded to “Buy” at Zacks Investment Research

Dell Technologies (NYSE:DELLGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has a $57.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.15% from the stock’s current price.

According to Zacks, “Dell Technologies Inc. is a provider of information technology solutions. The company’s operating segment consists of Client Solutions, Enterprise Solutions Group and Dell Software Group. Client Solutions segment includes sales to commercial and consumer customers of desktops, thin client products, notebooks as well as services and third-party software and peripherals of Client Solutions hardware. ESG segment includes servers, networking and storage as well as services and third-party software and peripherals of ESG hardware. DSG segment includes systems management, security software solutions and information management software offerings. Dell Technologies Inc. is headquartered in Round Rock, Texas. “

A number of other research firms also recently issued reports on DELL. Raymond James dropped their target price on shares of Dell Technologies from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Monday, February 28th. The Goldman Sachs Group downgraded shares of Dell Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $61.00 in a research report on Friday, April 1st. Citigroup lowered their price objective on shares of Dell Technologies from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Dell Technologies from $65.00 to $60.00 in a research report on Friday, May 27th. Finally, Bank of America increased their price objective on shares of Dell Technologies from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 27th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Dell Technologies presently has a consensus rating of “Buy” and an average target price of $70.71.

Shares of Dell Technologies stock traded up $0.61 on Thursday, hitting $51.28. The company’s stock had a trading volume of 3,723,249 shares, compared to its average volume of 4,661,919. Dell Technologies has a 52-week low of $38.33 and a 52-week 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. The firm has a fifty day moving average price of $47.35 and a 200-day moving average price of $53.13. The company has a market capitalization of $38.99 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89.

Dell Technologies (NYSE:DELLGet Rating) last released its earnings results on Thursday, May 26th. The technology company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.45. The company had revenue of $26.12 billion for the quarter, compared to analyst estimates of $25.23 billion. Dell Technologies had a net margin of 5.29% and a return on equity of 85.27%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.13 EPS. As a group, analysts expect that Dell Technologies will post 5.5 earnings per share for the current year.

In other news, insider Howard D. Elias sold 67,613 shares of Dell Technologies stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $54.67, for a total transaction of $3,696,402.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brunilda Rios sold 5,789 shares of the business’s stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $48.00, for a total value of $277,872.00. Following the completion of the sale, the chief accounting officer now owns 24,954 shares of the company’s stock, valued at $1,197,792. The disclosure for this sale can be found here. Insiders have sold a total of 327,907 shares of company stock valued at $17,145,029 over the last 90 days. Corporate insiders own 47.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Keybank National Association OH increased its position in Dell Technologies by 5.1% in the 4th quarter. Keybank National Association OH now owns 3,841 shares of the technology company’s stock worth $216,000 after buying an additional 187 shares during the period. Xponance Inc. increased its position in shares of Dell Technologies by 1.4% during the first quarter. Xponance Inc. now owns 16,637 shares of the technology company’s stock valued at $835,000 after purchasing an additional 230 shares during the period. Wetherby Asset Management Inc. increased its position in shares of Dell Technologies by 3.2% during the fourth quarter. Wetherby Asset Management Inc. now owns 7,776 shares of the technology company’s stock valued at $437,000 after purchasing an additional 238 shares during the period. CVA Family Office LLC increased its position in shares of Dell Technologies by 68.8% during the fourth quarter. CVA Family Office LLC now owns 589 shares of the technology company’s stock valued at $33,000 after purchasing an additional 240 shares during the period. Finally, CFO4Life Group LLC increased its position in shares of Dell Technologies by 2.3% during the first quarter. CFO4Life Group LLC now owns 12,150 shares of the technology company’s stock valued at $610,000 after purchasing an additional 273 shares during the period. 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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