Analysts Just Cut Price Targets for These 5 Stocks

2. Dell Technologies Inc. (NYSE:DELL)

Number of Hedge Fund Holders: 49

Shares of Dell Technologies Inc. (NYSE:DELL) turned red in the pre-market trading session on Friday, August 26, 2022. The drop came after Barclays trimmed its price target for the Texas-based tech company from $54 per share to $49 per share.

On Thursday, Dell Technologies Inc. (NYSE:DELL) delivered mixed Q2 results and a weak sales outlook for Q3. The company reported adjusted earnings of $1.68 per share, better than the consensus of $1.64 per share. On the downside, the quarterly revenue of $26.4 billion missed analysts’ average estimate of $26.5 billion.

Moving forward, Dell Technologies Inc. (NYSE:DELL) expects to generate revenue in the range of $23.8 – $25 billion for the current quarter, below the consensus of $26.34 billion.