Penguin Solutions (NASDAQ:PENG) Price Target Raised to $27.00

Penguin Solutions (NASDAQ:PENG) had its price target lifted by stock analysts at Needham & Company LLC from $25.00 to $27.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 30.75% from the company’s current price.

Several other equities research analysts also recently issued reports on PENG. The Goldman Sachs Group assumed coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Loop Capital initiated coverage on shares of Penguin Solutions in a report on Tuesday. They set a “buy” rating and a $30.00 price objective on the stock. Barclays reduced their target price on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Rosenblatt Securities restated a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a research note on Thursday, December 19th. Finally, Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $25.43.

Penguin Solutions Price Performance

PENG stock opened at $20.65 on Thursday. The company has a market capitalization of $1.10 billion, a PE ratio of -20.65 and a beta of 1.69. The company’s 50-day moving average price is $18.57. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.65 and a quick ratio of 2.19.

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

Insider Buying and Selling

In other news, insider Joseph Gates Clark sold 2,264 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the sale, the insider now owns 95,999 shares of the company’s stock, valued at approximately $1,679,982.50. This represents a 2.30 % 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, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total transaction of $267,346.70. Following the transaction, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at $4,730,998. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,264 shares of company stock worth $440,287 in the last 90 days. 2.60% of the stock is owned by company insiders.

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.