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Valued at $70.1 billion by market cap, Dell Technologies Inc. (DELL) operates as one of the laptop and PC companies in the world. The Round Rock, Texas-based PC designer operates through Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG) segments, with its operations span numerous countries across the Americas, Indo-Pacific and EMEA.
Dell has notably underperformed the broader market over the past year. DELL stock has gained 17.8% over the past 52-week period and plunged 11.8% on a YTD basis, lagging behind the S&P 500 Index’s ($SPX) 21.8% surge over the past year and 2.7% gains in 2025.
Zooming in further, while Dell has outpaced the Technology Select Sector SPDR Fund’s (XLK) 14.2% gains over the past year, it has underperformed XLK’s marginal 66 basis point drop in 2025.
Dell Technologies’ stock plummeted 12.3% in the trading session after the release of its mixed Q3 results on Nov. 26. While the company reported a notable 9.5% year-over-year growth in net revenues to $24.4 billion, it missed the Street’s expectations by a small margin. Nonetheless, its non-GAAP earnings increased 14.4% year-over-year to $2.15 per share, exceeding analysts’ consensus estimates. However, Dell reduced its Q4 revenue guidance which missed analysts’ expectations and unsettled investor confidence.
Dell is set to announce its fiscal 2025 (ended in January) results later this month, analysts expect Dell to deliver a significant 12.7% year-over-year growth in earnings to $6.92 per share. Furthermore, the company has a robust earnings surprise history. It has surpassed the Street’s bottom-line expectations in each of the past four quarters.
Among the 20 analysts covering the DELL stock, the consensus rating is a “Strong Buy.” That’s based on 15 “Strong Buy,” two “Moderate Buy,” and three “Hold” ratings.
This configuration has been stable over the past three months.
On Nov. 27, Melius Research analyst Ben Reitzes reiterated a “Buy” rating on DELL while raising the price target to $155.
DELL’s mean price target of $149.42 represents a 47% premium to current price levels. While its street-high target of $185 suggests a staggering 82% upside potential.
