Penguin Solutions, Inc. (NASDAQ:PENG) Stock Has Consensus Price Target of $63.33 According to Analysts

Penguin Solutions, Inc. (NASDAQ:PENG) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $64.17.

Several brokerages have recently commented on PENG. Citizens Jmp lifted their target price on Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 8th. Stifel Nicolaus upped their price target on Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Zacks Research cut Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Finally, Barclays cut shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price on the stock. in a report on Monday, July 20th.

Insider Transactions at Penguin Solutions

In related news, SVP Joseph Clark sold 1,327 shares of the 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 sale, the senior vice president owned 63,056 shares in the company, valued at $3,623,828.32. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $50.58, for a total transaction of $202,320.00. Following the completion of the transaction, the senior vice president directly owned 112,994 shares in the company, valued at $5,715,236.52. This represents a 3.42% 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 Trading of Penguin Solutions

Several hedge funds have recently made changes to their positions in PENG. Maverick Capital Ltd. acquired a new stake in shares of Penguin Solutions in the first quarter valued at approximately $771,000. California State Teachers Retirement System raised its holdings in shares of Penguin Solutions by 52.8% during the first quarter. California State Teachers Retirement System now owns 74,580 shares of the company’s stock valued at $1,313,000 after buying an additional 25,763 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Penguin Solutions by 34.0% during the first quarter. Pacer Advisors Inc. now owns 261,776 shares of the company’s stock worth $4,607,000 after buying an additional 66,460 shares during the period. First Trust Advisors LP boosted its position in shares of Penguin Solutions by 241.3% during the first quarter. First Trust Advisors LP now owns 49,067 shares of the company’s stock worth $864,000 after buying an additional 34,691 shares during the period. Finally, Bank of America Corp DE bought a new position in Penguin Solutions in the 2nd quarter worth approximately $8,777,000.

Penguin Solutions Price Performance

PENG opened at $61.36 on Tuesday. The company has a 50-day moving average of $53.23 and a 200-day moving average of $48.72. The company has a market capitalization of $3.14 billion, a P/E ratio of 43.52 and a beta of 2.86. Penguin Solutions has a 1-year low of $16.04 and a 1-year high of $89.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.63 by $0.21. The business had revenue of $478.71 million for the quarter, compared to analysts’ expectations of $407.47 million. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. During the same quarter last year, the company posted $0.52 earnings per share. Equities analysts expect that Penguin Solutions will post 2.08 EPS for the current fiscal year.

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.