Dell Technologies (NYSE: DELL) has received a new 12-month Wall Street outlook after a sharp rally that pushed the stock to a record high.
At the close of trading on Friday, DELL shares were up nearly 12% at $567.
The latest Dell stock forecast follows the company’s record quarterly results and a significant increase in full-year guidance, reinforcing investor confidence in its growing role in the artificial intelligence infrastructure market.
For the quarter ended July 31, 2026, Dell reported revenue of $47 billion, up 58% year over year. Non-GAAP earnings per share surged 203% to $7.04.
The company’s Infrastructure Solutions Group generated $31.8 billion in revenue, an increase of about 89%, while AI-optimized server revenue reached $16.4 billion.
Perhaps most notably, Dell reported a record $60.9 billion in AI server orders during the quarter, bringing its total AI backlog to $95 billion.
Management also raised its full-year outlook, projecting fiscal 2027 revenue of about $192 billion and non-GAAP earnings per share of approximately $25.50. The company expects AI server revenue to reach roughly $74 billion this year, nearly three times higher than the previous year.
Wall Street analysts bullish on DELL stock
Regarding the stock price outlook, data from 22 analysts tracked by TipRanks shows an average Dell stock price target of $597.53, implying upside of about 5.3% from current levels.
Among the 22 analysts covering the stock over the past three months, 15 rate it a ‘Buy’, seven recommend ‘Hold’, and none have issued a ‘Sell’ rating.
The consensus rating is therefore a ‘Moderate Buy ‘, reflecting continued optimism about Dell’s AI-driven growth despite the stock’s substantial gains in 2026.
The highest Dell stock price target stands at $735, while the lowest forecast is $500. Even the average target suggests further upside following the stock’s recent surge.
Among the analysts, RBC Capital Markets initiated coverage on Dell with an Outperform rating and a $640 price target, arguing that the company is one of the biggest beneficiaries of the AI infrastructure boom. Analyst David Paige pointed to Dell’s roughly $95 billion server backlog and $16.4 billion in quarterly AI server sales as evidence of sustained demand. He believes Dell is well positioned to benefit from a multi-year AI spending cycle, supported by its industry-leading supply chain, close relationship with Nvidia, and growing demand across both AI servers and storage products.
Evercore ISI reaffirmed its Outperform rating and $575 price target on Dell, despite removing the stock from its Tactical Outperform list after a strong earnings-driven rally. The firm remains bullish on Dell’s long-term prospects, noting that growth is increasingly being driven by both enterprise and AI-related demand rather than solely by AI-focused cloud providers. Evercore also highlighted ongoing supply constraints, which it views as a sign of robust demand and a factor that could support revenue growth through fiscal 2028 and beyond.
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