Penguin Solutions (NASDAQ:PENG) Price Target Raised to $27.00

Penguin Solutions (NASDAQ:PENG) had its target price lifted by Needham & Company LLC from $25.00 to $27.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on PENG. Loop Capital started coverage on Penguin Solutions in a report on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. JMP Securities assumed coverage on Penguin Solutions in a research note on Monday, November 18th. They issued an “outperform” rating and a $23.00 target price for the company. Barclays decreased their price target on Penguin Solutions from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a report on Monday, November 18th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Penguin Solutions presently has an average rating of “Buy” and an average price target of $25.43.

Penguin Solutions Stock Performance

Shares of Penguin Solutions stock opened at $19.13 on Thursday. The company has a market cap of $1.02 billion, a PE ratio of -19.13 and a beta of 1.69. Penguin Solutions has a 52-week low of $14.87 and a 52-week high of $29.81. The company has a quick ratio of 2.19, a current ratio of 2.65 and a debt-to-equity ratio of 1.65. The firm has a 50-day moving average price of $18.49.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.04). The business had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. Equities research analysts forecast that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, insider Joseph Gates Clark sold 2,264 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jack A. Pacheco sold 13,334 shares of the company’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 transaction, the chief operating officer now owns 235,960 shares of the company’s stock, valued at $4,730,998. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,264 shares of company stock worth $440,287 over the last three months. 2.60% of the stock is owned by insiders.

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.