Rosenblatt Securities Issues Positive Forecast for Penguin Solutions (NASDAQ:PENG) Stock Price

Penguin Solutions (NASDAQ:PENG) had its target price raised by Rosenblatt Securities from $27.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. increased their price objective on shares of Penguin Solutions from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Loop Capital raised their price target on shares of Penguin Solutions from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Needham & Company LLC raised their price target on shares of Penguin Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $26.00 price target on shares of Penguin Solutions in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.25.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG opened at $27.75 on Wednesday. The company’s fifty day moving average price is $25.00 and its 200 day moving average price is $21.17. Penguin Solutions has a 1 year low of $14.20 and a 1 year high of $28.20. The company has a market capitalization of $1.45 billion, a PE ratio of -99.10 and a beta of 2.20. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, July 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.17. The business had revenue of $324.25 million for the quarter, compared to the consensus estimate of $330.82 million. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. On average, research analysts predict that Penguin Solutions will post 1.05 earnings per share for the current year.

Insider Activity

In related news, EVP Jack A. Pacheco sold 63,447 shares of the firm’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the completion of the sale, the executive vice president directly owned 227,231 shares in the company, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Penny Herscher sold 2,046 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $25.42, for a total transaction of $52,009.32. Following the sale, the director owned 18,222 shares of the company’s stock, valued at approximately $463,203.24. The trade was a 10.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,175 shares of company stock worth $1,644,448. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Penguin Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of PENG. Vanguard Group Inc. acquired a new stake in Penguin Solutions during the first quarter worth about $111,458,000. Alliancebernstein L.P. acquired a new stake in shares of Penguin Solutions during the first quarter valued at about $28,919,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Penguin Solutions during the first quarter valued at about $19,545,000. Think Investments LP acquired a new stake in shares of Penguin Solutions during the first quarter valued at about $15,713,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Penguin Solutions during the first quarter valued at about $14,786,000.

About Penguin Solutions

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.