Dell Technologies Shares Dip Despite Beating Q1 Expectations: What You Need To Know
Portfolio Pulse from Vaishali Prayag
Dell Technologies (NYSE:DELL) shares fell despite beating Q1 expectations with a 6% YoY revenue increase to $22.24 billion and an adjusted EPS of $1.27. Analysts from Wells Fargo and Morgan Stanley raised their price targets, maintaining Overweight ratings.
May 31, 2024 | 6:10 pm
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Dell Technologies reported better-than-expected Q1 results with a 6% YoY revenue increase to $22.24 billion and an adjusted EPS of $1.27. Despite this, shares fell by 20.2% to $135.75. Analysts from Wells Fargo and Morgan Stanley raised their price targets, maintaining Overweight ratings.
Despite strong Q1 results, Dell's share price fell significantly, indicating potential investor concerns or profit-taking. Analysts' positive ratings and increased price targets suggest confidence in long-term prospects, but short-term sentiment appears negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100