Penguin Solutions (NASDAQ:PENG) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Penguin Solutions (NASDAQ:PENG) had its price objective raised by investment analysts at Needham & Company LLC from $25.00 to $27.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 41.14% from the stock’s previous close.

A number of other brokerages also recently commented on PENG. Rosenblatt Securities restated a “buy” rating and set a $27.00 target price on shares of Penguin Solutions in a report on Thursday, December 19th. Barclays decreased their price objective on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus dropped their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Citizens Jmp upgraded shares of Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Loop Capital initiated coverage on shares of Penguin Solutions in a research note on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $25.29.

Penguin Solutions Stock Down 3.6 %

Shares of Penguin Solutions stock opened at $19.13 on Thursday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -19.13 and a beta of 1.69. The stock has a fifty day moving average price of $18.42. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The business had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, sell-side analysts expect that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Insider Activity at Penguin Solutions

In other news, COO Jack A. Pacheco sold 6,666 shares of Penguin Solutions stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.00, for a total value of $133,320.00. Following the completion of the transaction, the chief operating officer now owns 235,960 shares of the company’s stock, valued at $4,719,200. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now directly owns 95,999 shares in the company, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,264 shares of company stock valued at $440,287 in the last three months. Company insiders own 2.60% of the company’s stock.

Penguin Solutions Company Profile

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.