Penguin Solutions (NASDAQ:PENG) Given New $22.50 Price Target at The Goldman Sachs Group

Penguin Solutions (NASDAQ:PENG) had its target price decreased by equities research analysts at The Goldman Sachs Group from $26.00 to $22.50 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 42.77% from the stock’s previous close.

PENG has been the topic of a number of other research reports. Loop Capital started coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday. Barclays upped their target price on Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. began coverage on shares of Penguin Solutions in a research report on Monday. They set a “neutral” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.94.

Penguin Solutions Trading Down 12.7 %

NASDAQ:PENG traded down $2.29 on Thursday, hitting $15.76. 1,146,041 shares of the stock were exchanged, compared to its average volume of 904,437. The stock has a market capitalization of $839.87 million, a PE ratio of -30.31 and a beta of 1.83. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $22.67. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.75 and a current ratio of 2.33. The business has a fifty day moving average of $19.55.

Penguin Solutions (NASDAQ:PENG) last issued its earnings results on Wednesday, April 2nd. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.19. Penguin Solutions had a negative net margin of 2.21% and a positive return on equity of 11.70%. The business had revenue of $365.52 million for the quarter, compared to the consensus estimate of $344.44 million. The business’s quarterly revenue was up 28.3% on a year-over-year basis. As a group, analysts predict that Penguin Solutions will post 1.05 earnings per share for the current year.

Insider Buying and Selling

In other Penguin Solutions news, COO Jack A. Pacheco sold 6,667 shares of Penguin Solutions stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $20.55, for a total value of $137,006.85. Following the completion of the transaction, the chief operating officer now directly owns 231,548 shares in the company, valued at $4,758,311.40. The trade was a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Joseph Gates Clark sold 2,131 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.94, for a total value of $44,623.14. Following the transaction, the senior vice president now directly owns 89,469 shares of the company’s stock, valued at $1,873,480.86. This trade represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,684 shares of company stock worth $393,617 over the last ninety days. 2.60% of the stock is owned by insiders.

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.