Penguin Solutions, Inc. (NASDAQ:PENG – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $47.50, but opened at $49.19. Penguin Solutions shares last traded at $48.9760, with a volume of 87,815 shares trading hands.
Analysts Set New Price Targets
PENG has been the subject of a number of research analyst reports. Zacks Research downgraded Penguin Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Citigroup reiterated an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Needham & Company LLC raised their price target on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Finally, Citizens Jmp boosted their price objective on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Penguin Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.
View Our Latest Stock Analysis on Penguin Solutions
Penguin Solutions Price Performance
Penguin Solutions (NASDAQ:PENG – Get Free Report) last released its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The business had revenue of $478.71 million during the quarter, compared to analyst estimates of $407.47 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Analysts predict that Penguin Solutions, Inc. will post 2.08 EPS for the current fiscal year.
Insider Activity
In other news, SVP Joseph Clark sold 1,327 shares of Penguin Solutions stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the sale, the senior vice president owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $50.58, for a total value of $202,320.00. Following the transaction, the senior vice president owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in shares of Penguin Solutions during the second quarter valued at $26,000. Allworth Financial LP bought a new position in Penguin Solutions in the 2nd quarter valued at about $37,000. Nykredit A S bought a new position in Penguin Solutions in the 2nd quarter valued at about $42,000. Public Employees Retirement System of Ohio acquired a new position in Penguin Solutions during the 2nd quarter valued at about $74,000. Finally, Meeder Asset Management Inc. acquired a new position in Penguin Solutions during the 2nd quarter valued at about $92,000.
Penguin Solutions Company Profile
Penguin Solutions, Inc (NASDAQ: PENG) provides technology solutions for data centers, high-performance computing, artificial intelligence, and intelligent edge applications. The company helps organizations design, deploy, and manage specialized computing environments, including systems used for demanding workloads such as scientific research, machine learning, and enterprise applications.
Its offerings include accelerated computing platforms, high-performance servers and clusters, software and services for managing complex computing infrastructure, and memory and storage products.
Featured Articles
- Five stocks we like better than Penguin Solutions
- Apple Stock Surges After Its Biggest Product Launch in Years—Can It Last?
- The Ultimate Cyber Shield: CrowdStrike Rises Past $235
- Palantir Just Told Wall Street Where AI Infrastructure Is Headed
- Homebuilders Are Down for the Year, Is Wall Street in Denial?
Receive News & Ratings for Penguin Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penguin Solutions and related companies with MarketBeat.com's FREE daily email newsletter.
