Wall Street sets Dell stock price target for next 12 months

As Dell Technologies Inc. (NYSE: DELL) has spiked by more than 230% so far in 2026, fueled by the Artificial Intelligence (AI) boom, Amit Daryanani, a Wall Street analyst at Evercore ISI, expects it to rally and reach a new all-time high over the next 12 months.

Daryanani reiterated a ‘Buy’ rating for Dell stock, according to a note sent to clients on August 19. He further raised the firm’s 12-month price target to $550 from $500, representing a 10% increment.

With DELL’s price hovering at approximately $431.07 on Wednesday, this analyst suggests a potential 27.59% upside. This ‘Outperform’ rating was based on Dell’s storage portfolio remaining underappreciated at current share levels; thus, Evercore ISI expects it to not only accelerate revenue but also profit.

Daryanani argued that Dell is well positioned to benefit from revamped enterprise spending on storage, driven by the AI boom. As a result, this analyst believes Dell’s storage business can grow revenue by double digits and contribute $2.00 in earnings per share (EPS).

Why are analysts bullish on Dell stock over the next 12 months?

Following Daryanani’s bullish target for DELL stock, 20 Wall Street analysts surveyed by TipRanks have set an average price target of $496.50, thereby implying a potential 15.18% uptick over the next 12 months. This ‘Moderate Buy’ rating from Wall Street analysts is largely bolstered by the company’s strong fundamentals.

In its fiscal 2027 first-quarter earnings, this company reported revenue of $43.84 billion, up 87.5% year-over-year, thus beating analysts’ expectations of $35.74 billion. As such, Dell issued an EPS of $4.86, whereas Wall Street expected $2.93.

Most importantly, this company closed Q1 with a record $51.3 billion in AI-server backlog, thereby confirming that demand has been outpacing its current supply.

Market performance 

Year-to-date (YTD), DELL stock has surged by more than 237%, hence hitting a market capitalization of approximately $302.8 billion at the time of reporting.

DELL’s stock YTD chart. Source: Finbold

If this company’s stock continues to ride the AI boom, amid Dell’s strong fundamentals, these analysts’ targets could materialize.

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