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Dell Technologies Inc. (NYSE:DELL) shares roseMonday after S&P Dow Jones Indices announced on Friday that Dell will be added to the S&P 500 Index.
The Details:
Dell will replace Etsy, Inc. (NASDAQ:ETSY) when it is added to the S&P 500 Index before the start of regular trading on Sept. 23. Palantir Technologies, Inc. (NYSE:PLTR) and Erie Indemnity Company (NASDAQ:ERIE) will also be added to the S&P 500.
Index inclusion is typically positive for stocks due to increased trading volume and liquidity resulting from purchases by index funds, ETFs and other funds mirroring the index.
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Wall Street analysts view Dell Technologies on the whole as a Outperform, given the history of coverage over the past three months. Wamsi Mohan from B of A Securities in Dell Technologies is the most bearish, expecting a 16.67% fall in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Dell Technologies fell 19.33%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 9.12% over the past year.
A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.
DELL Price Action: According to Benzinga Pro, Dell Technologies shares are up 4.41% at $106.50 at the time of publication Monday.
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