In a report released yesterday, Simon Leopold from Raymond James initiated coverage with a Buy rating on Dell Technologies (DELL) and a price target of $85.00. The company’s shares closed last Tuesday at $70.33, close to its 52-week high of $71.45.
According to TipRanks.com, Leopold is a 4-star analyst with an average return of 8.2% and a 57.3% success rate. Leopold covers the Technology sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise, and Applied Optoelectronics.
Dell Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $74.56, representing a 6.5% upside. In a report issued on November 22, RBC Capital also maintained a Buy rating on the stock with a $80.00 price target.
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Based on Dell Technologies’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $22.73 billion and net profit of $1.05 billion. In comparison, last year the company earned revenue of $23.37 billion and had a net profit of $3.42 billion.
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Dell Technologies, Inc. is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware. The CSG segment consists of sales to commercial and consumer customers of desktops, thin client products, and notebooks. The VMware segment provides compute, cloud management, networking and security, storage and availability, and other end-user computing offerings. The company was founded by Michael Saul Dell in 1984 and is headquartered in Round Rock, TX.
