Penguin Solutions (NASDAQ:PENG) Receives $24.94 Consensus Target Price from Brokerages

Shares of Penguin Solutions (NASDAQ:PENG) have been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $24.94.

A number of analysts have commented on PENG shares. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a report on Thursday, April 3rd. Barclays lifted their target price on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. The Goldman Sachs Group dropped their price target on Penguin Solutions from $26.00 to $22.50 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Rosenblatt Securities restated a “buy” rating and issued a $27.00 price target on shares of Penguin Solutions in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. began coverage on Penguin Solutions in a research report on Monday, March 31st. They set a “neutral” rating and a $20.00 target price on the stock.

Penguin Solutions Stock Up 0.2 %

PENG stock opened at $17.27 on Tuesday. Penguin Solutions has a twelve month low of $14.20 and a twelve month high of $22.67. 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 company has a market cap of $927.02 million, a price-to-earnings ratio of -33.21 and a beta of 1.83. The company’s 50 day moving average is $17.88.

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

Insider Buying and Selling at Penguin Solutions

In other Penguin Solutions news, EVP Jack A. Pacheco sold 3,219 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $20.00, for a total transaction of $64,380.00. Following the sale, the executive vice president now directly owns 231,548 shares of the company’s stock, valued at $4,630,960. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Penguin Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of PENG. Crews Bank & Trust bought a new stake in Penguin Solutions during the first quarter valued at about $28,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Penguin Solutions in the first quarter worth about $188,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Penguin Solutions in the first quarter worth about $779,000. Amalgamated Bank purchased a new stake in shares of Penguin Solutions in the first quarter worth about $264,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Penguin Solutions in the first quarter worth about $248,000.

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.