Analysts Set Penguin Solutions (NASDAQ:PENG) Target Price at $25.43

Penguin Solutions (NASDAQ:PENG - Get Free Report) has earned an average rating of "Buy" from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $25.43.

A number of brokerages have weighed in on PENG. Stifel Nicolaus cut their price objective on shares of Penguin Solutions from $32.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. Barclays raised their price objective on Penguin Solutions from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday. Citizens Jmp upgraded Penguin Solutions to a "strong-buy" rating in a research note on Monday, November 18th. Rosenblatt Securities reissued a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, December 19th. Finally, Loop Capital began coverage on Penguin Solutions in a research report on Tuesday, January 7th. They issued a "buy" rating and a $30.00 price target for the company.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG traded up $1.52 during mid-day trading on Friday, hitting $20.65. 2,820,603 shares of the stock traded hands, compared to its average volume of 1,205,695. The company has a market capitalization of $1.10 billion, a P/E ratio of -20.65 and a beta of 1.69. The stock has a fifty day moving average of $18.67. Penguin Solutions has a 52 week low of $14.87 and a 52 week high of $29.81. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its earnings results on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.04). The business had revenue of $311.15 million for the quarter, compared to the consensus estimate of $325.00 million. Penguin Solutions had a negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, sell-side analysts predict that Penguin Solutions will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Jack A. Pacheco sold 13,334 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $20.05, for a total transaction of $267,346.70. Following the sale, the chief operating officer now owns 235,960 shares of the company's stock, valued at $4,730,998. This trade represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph Gates Clark sold 2,264 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the transaction, the insider now directly owns 95,999 shares of the company's stock, 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. In the last ninety days, insiders sold 22,264 shares of company stock worth $440,287. 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.