Shares of Dell Technologies (NYSE:DELL) fell in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2024. Earnings per share came in at $1.88, which beat analysts’ consensus estimate of $1.46 per share.
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Sales decreased by 9.8% year-over-year, with revenue hitting $22.3 billion. This missed analysts’ expectations by $600 million.
During the quarter, the Infrastructure Solutions Group’s unit delivered revenue of $8.5 billion, down 12% year-over-year. Meanwhile, its Client Solutions Group segment recorded revenue of $12.3 billion, an 11% drop year-over-year.
Is DELL Stock a Hold or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on DELL stock based on 13 Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After an 88.97% rally in its share price this year, the average DELL price target of $75.79 per share implies 0.73% upside potential.
