New York, Feb 17, 2026, 18:43 EST — After-hours
- Dell shares closed down 1.2% on Tuesday and were little changed after the bell
- Citigroup cut its price target to $160 from $165, keeping a Buy rating
- Dell flagged a McLaren partnership extension ahead of results due Feb. 26
Dell Technologies shares fell 1.2% to $116.09 in Tuesday’s session and were little changed in after-hours trading, after Citigroup trimmed its price target on the PC and server maker to $160 from $165 while keeping a Buy rating. Volume was about 5.3 million shares, below its 50-day average, with the stock still roughly 31% under its Nov. 3 52-week high. (MarketWatch)
The target cut matters because Dell is heading into a key earnings print with investors trying to separate real demand from positioning. Hardware names have been jumpy this month, and any hint of discounting or slower orders tends to show up first in margin talk.
Citi framed the move as part of broader target changes across hardware and storage ahead of fourth-quarter reports, saying “commentary around end demand continues to be mixed.” That kind of line can travel fast when the next batch of numbers is close.
Dell also put fresh corporate news on the tape earlier on Tuesday, saying it was extending its relationship with McLaren Racing as an “Official Innovation Partner,” leaning on Dell’s “advanced AI infrastructure and PCs” for performance work. McLaren CEO Zak Brown said Dell’s support “strengthens the way we work across the organization,” while Dell CMO Gerri Tunnell said the partnership shows what’s possible when both sides “push boundaries.” (Business Wire)
On Monday, Dell also signed a memorandum of understanding with UAE education cloud provider Ankabut, aimed at expanding high-performance computing and “GPU-as-a-service” for national universities, according to a press release. Dell’s Walid Yehia said the tie-up aligns with the UAE’s push for “technology-driven learning.” (TradingView)
In its last results update, Dell reported record third-quarter revenue of $27.0 billion and said its servers and networking revenue rose 37% to $10.1 billion, as enterprise customers spent on infrastructure. (Dell)
Dell has also pointed investors to its AI-server push, and previously raised fiscal 2026 AI server shipment guidance to $20 billion as it talked up demand for AI systems. (Dell)
But the stock is still trading well below last year’s peak, and the pressure point remains profitability: big infrastructure builds can be lumpy, and PC demand can turn on a dime if corporate budgets tighten.
Next up is Dell’s fiscal 2026 fourth-quarter and full-year results on Feb. 26. Traders will be watching for any change in tone on end demand, pricing and margins — and whether management’s AI backlog talk shows up in near-term revenue rather than just the pipeline.
