S&P 500 Futures Drop in Premarket Trading; MongoDB, Dell Technologies Lag

Written by Emily J. Thompson, Senior Investment Analyst

DELL-1.89%

ULTA+0.32%

ZS+0.3%

Source: MarketWatch

Updated: May 31 2024

0mins

Source: MarketWatch

Stock Market Performance: Gap Inc. (GPS) and Zscaler Inc. (ZS) saw significant increases in pre-market trading, while Elastic N.V. (ESTC), Ulta Beauty Inc. (ULTA), and Align Technology Inc. (ALGN) also posted gains.
Declines in Trading: MongoDB Inc. (MDB) and Dell Technologies Inc. Cl C (DELL) experienced declines in early trading, with MDB falling by 24.0% and DELL by 16.3%.
Market Trends: U.S. stock markets were set to open in two hours at the time of the report.
Subscription Requirement: Readers were prompted to subscribe or sign in to continue reading the full content.
Ongoing Market Monitoring: The article hinted at ongoing monitoring of market performance and fluctuations.

DELL

$114.95+Infinity%1D

Analyst Views on DELL

Wall Street analysts forecast DELL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DELL is 164.85 USD with a low forecast of 113.00 USD and a high forecast of 180.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

15 Analyst Rating

11 Buy

3 Hold

1 Sell

Moderate Buy

Current: 117.170

Low

113.00

Averages

164.85

High

180.00

Current: 117.170

Low

113.00

Averages

164.85

High

180.00

Morgan Stanley

Erik Woodring

Underweight

downgrade

$113 -> $111

2026-01-20

New

Reason

Morgan Stanley

Erik Woodring

Price Target

$113 -> $111

AI Analysis

2026-01-20

New

downgrade

Underweight

Reason

Morgan Stanley analyst Erik Woodring lowered the firm's price target on Dell Technologies to $111 from $113 and keeps an Underweight rating on the shares. The firm's chief investment officer survey indicated the the slowest hardware budget growth in 15 years. Resellers are expecting an "elastic demand response" to input cost inflation, which warrants a more defensive IT hardware position despite secular AI tailwinds, the analyst tells investors in a research note. Morgan Stanley has turned "more defensive," saying its recent survey work "signals the perfect storm of cautionary factors emerging." The firm downgraded its sector view to Cautious from In-Line.

Citi

Asiya Merchant

Buy

downgrade

$175 -> $165

2026-01-20

New

Reason

Citi

Asiya Merchant

Price Target

$175 -> $165

2026-01-20

New

downgrade

Buy

Reason

Citi analyst Asiya Merchant lowered the firm's price target on Dell Technologies to $165 from $175 and keeps a Buy rating on the shares. The firm adjusted targets in the technology hardware group as part of its 2026 outlook. Citi believes hyperscaler data center spending "remains robust," which is driving demand for power, storage, connectors, and fiber.

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Morgan Stanley

Equal Weight

downgrade

$23 -> $21

2025-12-17

Reason

Morgan Stanley

Price Target

$23 -> $21

2025-12-17

downgrade

Equal Weight

Reason

Morgan Stanley lowered the firm's price target on Ingram Micro (INGM) to $21 from $23 and keeps an Equal Weight rating on the shares. Among the IT Hardware group, the firm recommends being overweight cloud capex winners, product-cycle beneficiaries such as Apple, and unique assets, while it suggests being underweight stocks with elevated memory exposure - like Dell (DELL) and HP (HPQ) - and is "increasingly more cautious" on memory-exposed names as well, the analyst tells investors in a year-ahead note.

Mizuho

Vijay Rakesh

Outperform

maintain

$170 -> $175

2025-11-26

Reason

Mizuho

Vijay Rakesh

Price Target

$170 -> $175

2025-11-26

maintain

Outperform

Reason

Mizuho analyst Vijay Rakesh raised the firm's price target on Dell Technologies to $175 from $170 and keeps an Outperform rating on the shares. The company reported "strong" October quarter revenue on artificial intelligence server upside with stable gross margins, the analyst tells investors in a research note. The firm believes Dell is well positioned into 2027.

About DELL

Dell Technologies Inc. is engaged in designing, developing, manufacturing, marketing, selling, and supporting a wide range of comprehensive and integrated solutions, products, and services. The Company operates through two segments: Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG). Its ISG segment enables the Company’s customer’s digital transformation with solutions that address artificial intelligence (AI), machine learning, data analytics, and multi cloud environments. Its comprehensive storage portfolio includes modern and traditional storage solutions, including all-flash arrays, scale-out file, object platforms, hyper-converged infrastructure, and software-defined storage. Its CSG segment offers branded personal computers (PCs) including notebooks, desktops, and workstations and branded peripherals that include displays, docking stations, keyboards, mice, and webcam and audio devices, as well as third-party software and peripherals.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.