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

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They presently have a $27.00 target price on the stock. Rosenblatt Securities’ target price indicates a potential upside of 49.58% from the company’s current price.

Several other brokerages also recently weighed in on PENG. Loop Capital initiated coverage on shares of Penguin Solutions in a report on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price on the stock. Barclays raised their price objective on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. initiated coverage on Penguin Solutions in a research report on Monday. They set a “neutral” rating and a $20.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a report on Thursday. One 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 company’s stock. According to data from MarketBeat, Penguin Solutions currently has a consensus rating of “Buy” and a consensus price target of $24.75.

Penguin Solutions Stock Up 4.5 %

PENG opened at $18.05 on Thursday. Penguin Solutions has a 52 week low of $14.87 and a 52 week high of $22.67. The firm’s 50 day moving average is $19.55. The company has a current ratio of 2.33, a quick ratio of 1.75 and a debt-to-equity ratio of 1.61. The stock has a market cap of $961.90 million, a P/E ratio of -34.71 and a beta of 1.83.

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

Insider Activity

In related news, SVP Joseph Gates Clark sold 2,131 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the sale, the senior vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jack A. Pacheco sold 6,667 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $20.55, for a total transaction of $137,006.85. Following the completion of the transaction, the chief operating officer now directly owns 231,548 shares of the company’s stock, valued at $4,758,311.40. The trade was a 2.80 % decrease in their position. 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 currently 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.