Dell Technologies ( DELL ) shares experienced a decline Friday afternoon despite reporting better-than-expected Q1 financial results.

What To Know: Dell Technologies ( DELL ) reported a 6% year-over-year increase in revenue, reaching $22.24 billion and surpassing the consensus estimate of $21.67 billion. The company also reported adjusted EPS of $1.27, slightly ahead of estimates of $1.26.

Related Link: Dell Technologies Stock Plummets By 16% In Pre-Market Despite Beating Q1 Revenue Estimates

Analyst Reactions: In response to Dell's earnings, several analysts have adjusted their ratings and price targets. Wells Fargo analyst Aaron Rakers maintained an Overweight rating on Dell Technologies ( DELL ) and raised the price target from $170 to $175, expressing continued confidence in the company’s prospects.

Similarly, Morgan Stanley analyst Erik Woodring maintained an Overweight rating and increased the price target from $152 to $155, also acknowledging the company’s strong performance and potential for growth.

Dell Price Action: Dell Technologies ( DELL ) shares were down by 20.2% at $135.75 according to Benzinga Pro.

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Image: Courtesy of Dell Technologies ( DELL )