Dell Technologies Stock Is Trading Higher Today: Here's Why

Dell Technologies Inc DELL shares are trading higher Tuesday after the company reported better-than-expected financial results.

Dell reported third-quarter revenue of $24.7 billion, which beat average analyst estimates of $24.53 billion, according to Benzinga Pro. The company said third-quarter revenue was down 6% year-over-year. 

Dell reported third-quarter earnings of $2.30 per share, which beat estimates of $1.60 per share. 

"With the industry's largest direct sales force and our technology ecosystem, we anticipated the changing landscape and responded quickly. We combatted slower demand and drove record profitability, with record operating income of $1.8 billion," said Chuck Whitten, co-chief operating officer of Dell.

Analyst Assessment: Several analysts adjusted price targets on the stock following the company's quarterly results.

• Barclays analyst Tim Long maintained Dell with an Equal-Weight and lowered the price target from $49 to $41.
• Citigroup analyst Jim Suva maintained Dell with a Buy and lowered the price target from $55 to $53.
• Wells Fargo analyst Aaron Rakers maintained Dell with an Overweight and lowered the price target from $58 to $52.
• Raymond James analyst Simon Leopold maintained Dell with an Outperform and raised the price target from $47 to $50.
• Credit Suisse analyst Shannon Cross maintained Dell with an Outperform and lowered the price target from $56 to $53.

Related Link: Dell To $60? These Analysts Revise Price Targets On The Computer Maker Following Q3 Results

DELL Price Action: Dell has a 52-week high of $61.54 and a 52-week low of $32.90.

The stock was up 3.71% at $42.60 at time of publication. 

Photo: Riekus from Pixabay.