Dell Technologies (NYSE:DELL) Price Target Cut to $48.00

Dell Technologies (NYSE:DELLGet Rating) had its target price lowered by investment analysts at Evercore ISI from $50.00 to $48.00 in a note issued to investors on Tuesday, The Fly reports. Evercore ISI’s price target would suggest a potential upside of 7.60% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Dell Technologies from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday. Morgan Stanley reduced their price target on shares of Dell Technologies from $54.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Monday, October 17th. Bank of America reduced their price target on shares of Dell Technologies from $60.00 to $55.00 in a research report on Tuesday. Credit Suisse Group restated a “buy” rating and issued a $60.00 price target on shares of Dell Technologies in a research report on Friday, August 26th. Finally, Barclays reduced their price target on shares of Dell Technologies from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.38.

Dell Technologies Trading Up 1.7 %

DELL opened at $44.61 on Tuesday. The company has a fifty day simple moving average of $37.60 and a 200 day simple moving average of $42.39. The firm has a market cap of $32.70 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.60 and a beta of 0.92. Dell Technologies has a twelve month low of $32.90 and a twelve month high of $61.54.

Dell Technologies (NYSE:DELLGet Rating) last announced its quarterly earnings data on Monday, November 21st. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.71. The company had revenue of $24.72 million during the quarter, compared to analyst estimates of $24.61 billion. Dell Technologies had a net margin of 1.74% and a negative return on equity of 235.07%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the business earned $2.37 EPS. On average, analysts forecast that Dell Technologies will post 5.7 earnings per share for the current fiscal year.

Insider Activity at Dell Technologies

In related news, insider William F. Scannell sold 27,536 shares of Dell Technologies stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $40.20, for a total value of $1,106,947.20. Following the sale, the insider now directly owns 343,835 shares in the company, valued at approximately $13,822,167. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 47.30% of the stock is currently owned by insiders.

Institutional Trading of Dell Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in DELL. Goldman Sachs Group Inc. raised its position in shares of Dell Technologies by 80.7% during the 1st 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. Alliancebernstein L.P. raised its position in shares of Dell Technologies by 43.9% during the 3rd quarter. Alliancebernstein L.P. now owns 4,567,318 shares of the technology company’s stock worth $156,065,000 after buying an additional 1,394,376 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Dell Technologies during the 1st quarter worth about $68,764,000. Renaissance Technologies LLC raised its position in shares of Dell Technologies by 68.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,280,377 shares of the technology company’s stock worth $105,376,000 after buying an additional 929,500 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Dell Technologies by 133.3% during the 2nd quarter. Deutsche Bank AG now owns 1,340,634 shares of the technology company’s stock worth $61,951,000 after buying an additional 766,098 shares in the last quarter. 26.53% of the stock is currently owned by institutional investors.

About Dell Technologies

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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).

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