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 42.41% from the company’s previous close.

Several other research firms have also issued reports on PENG. JMP Securities started coverage on shares of Penguin Solutions in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 target price on the stock. Stifel Nicolaus lowered their price target on Penguin Solutions from $32.00 to $27.00 and set a “buy” rating on the stock 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 for the company. Needham & Company LLC decreased their target price on Penguin Solutions from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $24.17.

Penguin Solutions Price Performance

Shares of Penguin Solutions stock opened at $18.96 on Thursday. Penguin Solutions has a 1 year low of $14.87 and a 1 year high of $29.81. The company has a current ratio of 2.65, a quick ratio of 2.19 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $1.01 billion, a PE ratio of -18.96 and a beta of 1.74. The business’s fifty day simple moving average is $17.58.

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). Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. The company had revenue of $311.15 million for the quarter, compared to analysts’ expectations of $325.00 million. As a group, equities analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Insider Transactions at Penguin Solutions

In other news, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction on Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the transaction, the chief operating officer now owns 235,960 shares in the company, valued at $4,730,998. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the completion of the transaction, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% 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.