The Goldman Sachs Group Lowers Penguin Solutions (NASDAQ:PENG) Price Target to $22.50

Penguin Solutions (NASDAQ:PENG - Get Free Report) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $26.00 to $22.50 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 54.85% from the stock's previous close.

A number of other equities analysts also recently issued reports on PENG. Barclays lifted their price objective on shares of Penguin Solutions from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. Loop Capital assumed coverage on shares of Penguin Solutions in a research report on Tuesday, January 7th. They issued a "buy" rating and a $30.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Penguin Solutions in a research report on Monday, March 31st. They issued a "neutral" rating and a $20.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and set a $27.00 price objective on shares of Penguin Solutions in a report on Thursday, April 3rd. Finally, Rosenblatt Securities restated a "buy" rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $24.94.

Penguin Solutions Trading Down 5.2 %

NASDAQ PENG traded down $0.79 during mid-day trading on Thursday, hitting $14.53. The company's stock had a trading volume of 1,535,417 shares, compared to its average volume of 932,692. The stock has a market capitalization of $774.32 million, a price-to-earnings ratio of -27.94 and a beta of 1.83. The firm's 50 day moving average price is $19.28. Penguin Solutions has a twelve month low of $14.21 and a twelve month high of $22.67. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61.

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

Insider Buying and Selling

In related news, SVP Joseph Gates Clark sold 2,131 shares of Penguin Solutions stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the completion of the sale, the senior vice president now owns 89,469 shares of the company's stock, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jack A. Pacheco sold 3,219 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $20.00, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,684 shares of company stock valued at $393,617. Company insiders own 2.60% 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.