Tech leader Dell Technologies Inc (NYSE:DELL) is up 5.6% to trade at $125.92 at last check, after the company forecast its fourth-quarter revenue and profit above estimates, banking on AI server demand to keep growing. This came alongside better-than-expected third-quarter results of $2.59 earnings per share on revenue of $27.01 billion.
Several analysts have hiked their price targets in response, including Mizuho to $175 from $170. There remains room for upgrades, too, with six covering brokerages sporting a tepid "hold" recommendation on DELL.
Dell Technologies stock has been stuck in a choppy pattern over the past few weeks, following a string of 10 daily drops in 11 sessions. The computer maker has managed to hold onto a 12% year-to-date gain, however, recently bouncing off the $120 floor.
Options are also red hot today. So far, 36,000 calls and 25,000 puts have been exchanged, four times the average daily pace. Most popular its the December 120 put, while options are being sold-to-open at the weekly 11/28 135-strike call.
The equity tends to outperform options traders' volatility estimates, too. This is per its Schaeffer's Volatility Scorecard (SVS) of 82 out of 100.
