(CercleFinance.com) – Dell shares exploded by more than 25% on Friday on the New York Stock Exchange following the announcement last night of profits and sales figures higher than analysts’ expectations.
The American technology group, which turned away from PCs to focus on the business market, saw its adjusted EPS (non-GAAP) increase by 22% to $2.20 over the last three months of its 2023 financial year. /2024, closed February 2.
However, the computer equipment manufacturer says it has recorded revenues down 11% to just over 22.3 billion.
But its momentum in servers dedicated to AI impresses the market, with orders that climbed by almost 40% sequentially and an order book that exceeded $2.9 billion at the end of the year.
Dell Technologies also announced a 20% increase in its annual dividend per share, which will increase to $1.78 from the quarterly payment scheduled for early May.
Following this publication, Bank of America analysts raised their price target on the stock from $98 to $116, while reiterating their buy advice.
Welcoming the acceleration of activities in AI, the UBS teams are raising theirs from 99 to 113 euros, with a recommendation again maintained for purchase.
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