Dell Technologies Inc. (DELL), headquartered in Round Rock, Texas, with a market capitalization of $82.2 billion, is a global leader in technology solutions and services. Known for our innovative products and customer-centric approach, Dell helps businesses around the world with cutting-edge computing, storage, networking and cloud solutions for diverse industries.
Companies valued at more than $10 billion are typically classified as large-cap stocks, and Dell Technologies embodies this distinction through its outstanding market presence and leadership in technology solutions. With cutting-edge innovation and a comprehensive portfolio, Dell helps businesses across industries by delivering seamless compute, storage, networking and cloud solutions tailored to their unique needs. .
Dell stock is currently trading 36.1% below its 52-week high of $179.70, set on May 29th. The stock is down 3.1% over the past three months, well below the 3.9% gain for the Technology Select Sector SPDR Fund (XLK) in March 2018. Same period.
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DELL is down 16.7% over the past 6 months despite gaining 50.1% over the past 52 weeks. Meanwhile, XLK has gained 3.6% in the past six months and 21.8% in the past year.
DELL’s recent bearish trend is evident as the company’s stock price has been below its 50-day moving average since late November, and below its 200-day moving average since early December.
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Dell Technologies stock fell 12.3% the day after the company released its third-quarter earnings report on Nov. 26. Revenue rose 10% from a year earlier to $24.37 billion, but fell short of Wall Street’s expectations of $24.56 billion. However, the company’s earnings per share were $2.15, up 14% year-over-year and beating expectations of $2.06 per share.
Additionally, the company reported strong results from its Infrastructure Solutions Group (ISG), with sales of $11.4 billion, up 34% year-over-year. This led to a 58% increase in server and networking revenue to $7.4 billion.
Highlighting the contrast in performance, rival HP Inc. (HPQ) underperformed DELL, gaining 8.4% over 52 weeks.
Despite the recent poor stock performance, analysts maintain a bullish outlook on Dell Technologies. The stock has a consensus rating of “Strong Buy” from 20 analysts, with an average price target of $149.42, implying a potential upside of 30.1% from current levels.
On the date of publication, Rashmi Kumari did not have any positions (directly or indirectly) in any securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, please see the Barchart Disclosure Policy here. More news from Barchart
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