Penguin Solutions (NASDAQ:PENG – Get Free Report)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a research report issued on Thursday,Benzinga reports. They currently have a $27.00 price objective on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 45.87% from the stock’s previous close.
A number of other brokerages have also weighed in on PENG. JMP Securities began coverage on Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price for the company. Citizens Jmp upgraded Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Needham & Company LLC lowered their price objective on shares of Penguin Solutions from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Stifel Nicolaus cut their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Barclays lowered their price target on shares of Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Penguin Solutions currently has an average rating of “Buy” and a consensus price target of $24.17.
Check Out Our Latest Analysis on Penguin Solutions
Penguin Solutions Price Performance
Penguin Solutions (NASDAQ:PENG – Get Free Report) last issued its earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. The company had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. Sell-side analysts forecast that Penguin Solutions will post 1.33 EPS for the current fiscal year.
Insider Activity
In related news, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the transaction, the insider now directly owns 95,999 shares in the company, valued at $1,679,982.50. The trade was a 2.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jack A. Pacheco sold 13,334 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total value of $267,346.70. Following the completion of the sale, the chief operating officer now directly owns 235,960 shares of the company’s stock, valued at approximately $4,730,998. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.40% 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.
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