Penguin Solutions (NASDAQ:PENG) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. started coverage on shares of Penguin Solutions (NASDAQ:PENG - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a "neutral" rating and a $20.00 price target on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 35.14% from the stock's previous close.

Several other equities research analysts have also weighed in on the company. Loop Capital initiated coverage on Penguin Solutions in a research report on Tuesday, January 7th. They set a "buy" rating and a $30.00 price target on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research report on Thursday, December 19th. Needham & Company LLC upped their price objective on Penguin Solutions from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, January 9th. Finally, Barclays boosted their price target on Penguin Solutions from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, January 9th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $24.94.

Penguin Solutions Stock Performance

NASDAQ:PENG traded down $1.39 during trading hours on Monday, reaching $14.80. The company's stock had a trading volume of 772,289 shares, compared to its average volume of 912,467. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The company has a market capitalization of $788.71 million, a price-to-earnings ratio of -28.48 and a beta of 1.83. The firm's 50-day moving average price is $19.46. Penguin Solutions has a 1 year low of $14.26 and a 1 year high of $22.67.

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

Insider Buying and Selling at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 3,219 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $20.00, for a total transaction of $64,380.00. Following the transaction, the executive vice president now owns 231,548 shares of the company's stock, valued at approximately $4,630,960. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the transaction, the senior vice president now directly owns 89,469 shares of the company's stock, valued at approximately $1,873,480.86. This represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,684 shares of company stock worth $393,617 in the last quarter. 2.60% of the stock is owned by corporate 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.