Dell Technologies (NYSE:DELL) shares experienced a decline Friday afternoon despite reporting better-than-expected Q1 financial results.
What To Know: Dell Technologies reported a 6% year-over-year increase in revenue, reaching $22.24 billion and surpassing the consensus estimate of $21.67 billion. The company also reported adjusted EPS of $1.27, slightly ahead of estimates of $1.26.
Related Link: Dell Technologies Stock Plummets By 16% In Pre-Market Despite Beating Q1 Revenue Estimates
Analyst Reactions: In response to Dell’s earnings, several analysts have adjusted their ratings and price targets. Wells Fargo analyst Aaron Rakers maintained an Overweight rating on Dell Technologies and raised the price target from $170 to $175, expressing continued confidence in the company’s prospects.
Similarly, Morgan Stanley analyst Erik Woodring maintained an Overweight rating and increased the price target from $152 to $155, also acknowledging the company’s strong performance and potential for growth.
Dell Price Action: Dell Technologies shares were down by 20.2% at $135.75 according to Benzinga Pro.
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Image: Courtesy of Dell Technologies
