The stock of Dell Technologies Inc. (NYSE:DELL) is now priced at $66.21 and the shares are 3.78 points up or 6.05% higher compared to its previous closing price of $62.43. The stock had 9.113 million contracts set over the past session. DELL shares’ daily volume is compared to its average trading volume at 2.951 million shares. However, it has a float of 249 million and although its performance was 9.51% over the week, it’s one to watch. Analysts have given the DELL stock a yearly average price target of $62.89 per share. It means the stock’s downside potential is -5.01% with the DELL share price recently placing at $64.8 to $67.62. However, some brokerage firms have priced the stock below the average, including one that has called $48.
The shorts are running away from the Dell Technologies Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the DELL shares have declined. Short interest in the stock represents just 3.29% of its float, but the volume has dropped by 0.
In the last trading session, Dell Technologies Inc. (NYSE:DELL) raised by $5.75 over the week and gained $6.38 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $67.62. The stock recorded its established 52-week high on 08/28/20.
Since 03/18/20, the stock has traded to a low of $25.51 at 159.55%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.81. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Dell Technologies Inc.’s two-week RSI is 73.99. This suggests that the stock is oversold at the moment and that DELL shares’ price movement remains not stable. The stochastic readings are equally revealing at 78.71% meaning the DELL share price is currently in oversold territory.
The technical chart shows that the DELL stock will likely settle at between $67.62 and $69.03 per share. However, if the stock dips below $64.8, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $63.39.
Currently, the stock is trading in the green of MACD, with a reading of 2.15. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at RBC Capital Mkts raised their recommendation for DELL from Sector Perform to Outperform in August 28 review while maintain their target price of $48 to $80. Wells Fargo analysts see the stock as a Overweight, but they also raised the share’s target price from $70 to $75 in a flash note released to investors on August 28. Raymond James analysts see the stock as Outperform. Nonetheless, the analysts revised the share prices up on August 28, placing it at $69 from $54.
The average rating for the DELL equity is 2.33 and is currently gathering a bullish momentum. Of 18 analysts tracking Dell Technologies Inc. polled by Reuters, 9 rated DELL as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (9) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the DELL stock price is 9.76X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 24.1 above the group’s average of 16.1. Dell Technologies Inc. has its P/E ratio at 256.8, which means that the stock is currently trading at a premium relative to the 4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Dell Technologies Inc. (NYSE:DELL) will decrease by about -3%, which will see them reach $22100 million. The company’s full-year revenues are, however, expected to diminish by about -2.96%, down from $92500 million to $89800 million. DELL’s expected adjusted earnings should drop almost -26.29% to end up at $1.29 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -21.9% to record $5.74/share.