Penguin Solutions (NASDAQ:PENG) Price Target Raised to $27.00 at Needham & Company LLC

Penguin Solutions (NASDAQ:PENG) had its price objective raised by investment analysts at Needham & Company LLC from $25.00 to $27.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 41.14% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Rosenblatt Securities reissued a “buy” rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, December 19th. Loop Capital assumed coverage on Penguin Solutions in a research note on Tuesday. They issued a “buy” rating and a $30.00 target price on the stock. Stifel Nicolaus decreased their price target on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. The Goldman Sachs Group started coverage on Penguin Solutions in a research report on Friday, November 1st. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Barclays decreased their target price on 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 research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Penguin Solutions has a consensus rating of “Buy” and a consensus price target of $25.29.

Penguin Solutions Stock Performance

Shares of NASDAQ:PENG opened at $19.13 on Thursday. The company has a market capitalization of $1.02 billion, a price-to-earnings 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 business has a 50 day moving average price of $18.42. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts forecast that Penguin Solutions will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In other news, COO Jack A. Pacheco sold 6,666 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.00, for a total value of $133,320.00. Following the completion of the transaction, the chief operating officer now directly owns 235,960 shares in the company, valued at approximately $4,719,200. This represents a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Gates Clark sold 2,264 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 22,264 shares of company stock valued at $440,287 in the last 90 days. Corporate insiders own 2.60% 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.