Penguin Solutions (NASDAQ:PENG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Penguin Solutions (NASDAQ:PENG) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $100.00 target price on Penguin Solutions in a research report on Friday, October 9th. Needham & Company LLC lifted their price target on shares of Penguin Solutions from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Citizens Jmp boosted their price objective on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 8th. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Finally, Bank of America began coverage on shares of Penguin Solutions in a research report on Friday, October 9th. They set a “buy” rating and a $100.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Penguin Solutions Stock Performance

PENG opened at $56.54 on Friday. The company has a market cap of $2.90 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.67 and a beta of 2.86. The stock has a 50-day moving average of $56.46 and a 200-day moving average of $52.83. Penguin Solutions has a 52-week low of $16.04 and a 52-week high of $89.86. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.25 and a current ratio of 1.88.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, October 6th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.23. Penguin Solutions had a return on equity of 36.71% and a net margin of 10.43%. The business had revenue of $566.68 million for the quarter, compared to analyst estimates of $520.99 million. During the same quarter in the prior year, the firm posted $0.11 EPS. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. As a group, equities research analysts forecast that Penguin Solutions will post 4.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $50.58, for a total transaction of $202,320.00. Following the transaction, the senior vice president owned 112,994 shares in the company, valued at approximately $5,715,236.52. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Clark sold 1,327 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the transaction, the senior vice president directly owned 63,056 shares of the company’s stock, valued at $3,623,828.32. This represents a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Penguin Solutions

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Penguin Solutions in the second quarter worth $581,658,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Penguin Solutions during the second quarter worth $150,192,000. Paradigm Capital Management Inc. NY increased its holdings in Penguin Solutions by 73.8% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,605,100 shares of the company’s stock valued at $28,250,000 after buying an additional 681,700 shares during the period. William Blair Investment Management LLC bought a new stake in Penguin Solutions in the 2nd quarter valued at $34,207,000. Finally, Bank of New York Mellon Corp bought a new stake in Penguin Solutions in the 2nd quarter valued at $22,503,000.

Penguin Solutions Company Profile

Penguin Solutions, Inc provides intelligent infrastructure solutions for artificial intelligence, high-performance computing, enterprise data centers and other demanding technology environments. The company combines specialized hardware, software and professional services to help organizations design, deploy and manage complex computing infrastructure.

Its offerings include AI and high-performance computing systems, servers, storage and networking infrastructure, as well as software and services for infrastructure management, optimization and support.