Penguin Solutions (NASDAQ:PENG) Earns “Buy” Rating from Rosenblatt Securities

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a report released on Friday, October 2nd, Marketbeat.com reports. They currently have a $80.00 price objective on the stock. Rosenblatt Securities’ target price suggests a potential upside of 0.92% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Barclays lowered shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 target price for the company. in a research note on Monday, July 20th. Stifel Nicolaus increased their target price on Penguin Solutions from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Citizens Jmp lifted their price target on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen downgraded Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.50.

Penguin Solutions Stock Up 3.9%

NASDAQ PENG traded up $2.99 during trading hours on Friday, reaching $79.27. 2,114,387 shares of the company’s stock were exchanged, compared to its average volume of 2,493,717. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.25 and a current ratio of 1.88. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 30.76 and a beta of 2.86. The company’s 50-day moving average is $55.17 and its two-hundred day moving average is $50.75. Penguin Solutions has a one year low of $16.04 and a one year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Tuesday, October 6th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.23. The firm had revenue of $566.69 million for the quarter, compared to analyst estimates of $520.99 million. Penguin Solutions had a net margin of 10.43% and a return on equity of 36.71%. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. On average, analysts forecast that Penguin Solutions will post 4.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Joseph Clark sold 1,327 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total value of $76,262.69. Following the sale, the senior vice president owned 63,056 shares of the company’s stock, valued at $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. The sale 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 Anne Kuykendall sold 4,000 shares of the stock in a transaction on Monday, August 24th. The stock was 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 of the company’s stock, valued at $5,715,236.52. The trade was a 3.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Penguin Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GK Wealth Management LLC acquired a new position in shares of Penguin Solutions during the 3rd quarter worth about $101,000. GAMMA Investing LLC grew its holdings in shares of Penguin Solutions by 9.1% in the 3rd quarter. GAMMA Investing LLC now owns 5,527 shares of the company’s stock valued at $302,000 after acquiring an additional 462 shares in the last quarter. Central Pacific Bank Trust Division increased its position in shares of Penguin Solutions by 14.1% in the third quarter. Central Pacific Bank Trust Division now owns 21,656 shares of the company’s stock valued at $1,184,000 after acquiring an additional 2,680 shares during the last quarter. Polaris Financial Partners acquired a new stake in shares of Penguin Solutions in the third quarter valued at about $50,000. Finally, Tidal Investments LLC raised its holdings in Penguin Solutions by 224.6% during the second quarter. Tidal Investments LLC now owns 165,954 shares of the company’s stock worth $12,614,000 after acquiring an additional 114,821 shares in the last quarter.

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.