Dell Technologies (NYSE:DELL) stock has rallied over 87% year-to-date, buoyed by the company’s efforts to embed AI technologies in its offerings. Individual investors have a Very Positive view of the company. This suggests that investors expect DELL stock to further benefit from the AI boom.
Dell provides a wide range of IT solutions, including computers, servers, storage, and cloud services.
In the last 30 days, the number of portfolios (tracked by TipRanks) holding the stock increased by 42.5%. Overall, among the 740,487 portfolios monitored by TipRanks, 0.9% have invested in DELL stock.
Hedge Funds are Bullish
Also, hedge fund managers maintain a positive outlook on Dell stock, expecting sustained demand for Dell’s AI hardware solutions. Moreover, the company’s efforts to diversify its AI solutions by entering into partnerships with other market leaders such as Nvidia (NVDA) and Intel (INTC) are expected to help aid its performance going forward.
Currently, the Hedge Fund signal remains Very Positive for DELL stock. TipRanks data shows that hedge funds bought 4.7 million shares of the company last quarter.
Is DELL Stock a Good Buy Now?
Overall, Dell has a Strong Buy consensus rating on TipRanks based on 11 Buy, one Hold, and one Sell recommendations. The analysts’ average price target on Dell stock of $157.15 implies a 10.65% upside potential.
