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Dell (NYSE:DELL) Receives New Coverage from Analysts at Cowen

Last updated on Tuesday, June 30, 2020 | 2020 MarketBeat

Stock analysts at Cowen started coverage on shares of Dell (NYSE:DELL) in a research report issued on Tuesday, Briefing.com Automated Import reports. The firm set a "market perform" rating and a $60.00 price target on the technology company's stock. Cowen's price target indicates a potential upside of 11.61% from the stock's previous close.

Several other analysts have also recently commented on DELL. Wells Fargo & Co boosted their price target on Dell from $57.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 24th. Sanford C. Bernstein dropped their target price on Dell from $60.00 to $50.00 and set a "market perform" rating for the company in a report on Monday, April 13th. Morgan Stanley upped their target price on Dell from $35.00 to $50.00 and gave the company an "equal weight" rating in a report on Friday, May 29th. Citigroup dropped their target price on Dell from $65.00 to $40.00 and set a "buy" rating for the company in a report on Monday, March 16th. Finally, Bank of America restated a "buy" rating and issued a $60.00 target price on shares of Dell in a report on Wednesday, June 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus target price of $53.00.

Shares of DELL stock opened at $53.76 on Tuesday. The company has a debt-to-equity ratio of 14.92, a current ratio of 0.82 and a quick ratio of 0.75. The company has a market cap of $38.71 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.81 and a beta of 0.87. The stock has a 50 day simple moving average of $47.01 and a 200-day simple moving average of $45.52. Dell has a 1-year low of $25.51 and a 1-year high of $59.17.

Dell (NYSE:DELL) last announced its earnings results on Thursday, May 28th. The technology company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.01 by $0.33. The business had revenue of $21.90 billion during the quarter, compared to the consensus estimate of $20.65 billion. Dell had a return on equity of 141.86% and a net margin of 5.13%. The business's quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 EPS. Analysts anticipate that Dell will post 5.4 earnings per share for the current fiscal year.

In other news, insider Karen H. Quintos sold 37,933 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $49.19, for a total value of $1,865,924.27. Following the transaction, the insider now owns 68,201 shares in the company, valued at approximately $3,354,807.19. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas W. Sweet sold 3,038 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $50.00, for a total value of $151,900.00. Following the completion of the transaction, the chief financial officer now owns 78,207 shares in the company, valued at approximately $3,910,350. The disclosure for this sale can be found here. Insiders sold a total of 97,774 shares of company stock worth $4,653,989 in the last ninety days. 48.30% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Atria Investments LLC grew its stake in Dell by 11.1% during the 4th quarter. Atria Investments LLC now owns 12,768 shares of the technology company's stock worth $656,000 after buying an additional 1,279 shares during the last quarter. Amalgamated Bank grew its stake in Dell by 5.6% during the 4th quarter. Amalgamated Bank now owns 23,346 shares of the technology company's stock worth $1,200,000 after buying an additional 1,238 shares during the last quarter. Alberta Investment Management Corp grew its stake in Dell by 24.1% during the 4th quarter. Alberta Investment Management Corp now owns 317,075 shares of the technology company's stock worth $16,294,000 after buying an additional 61,594 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Dell by 7.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,612 shares of the technology company's stock valued at $1,008,000 after purchasing an additional 1,294 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in shares of Dell by 34.2% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 107,230 shares of the technology company's stock valued at $5,510,000 after purchasing an additional 27,349 shares during the last quarter. Hedge funds and other institutional investors own 24.91% of the company's stock.

About Dell

Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.

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