Rosenblatt Securities Reiterates Buy Rating for Penguin Solutions (NASDAQ:PENG)

Penguin Solutions (NASDAQ:PENG - Get Free Report)'s stock had its "buy" rating restated by Rosenblatt Securities in a research report issued on Thursday,Benzinga reports. They currently have a $27.00 price objective on the stock. Rosenblatt Securities' target price would indicate a potential upside of 47.06% from the stock's current price.

PENG has been the subject of a number of other reports. Needham & Company LLC reduced their target price on shares of Penguin Solutions from $35.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. Stifel Nicolaus decreased their target price on shares of Penguin Solutions from $32.00 to $27.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Barclays cut their price target on shares of Penguin Solutions from $27.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. The Goldman Sachs Group began coverage on Penguin Solutions in a report on Friday, November 1st. They set a "buy" rating and a $21.00 price objective for the company. Finally, Citizens Jmp upgraded Penguin Solutions to a "strong-buy" rating in a research note on Monday, November 18th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $24.17.

Penguin Solutions Stock Down 3.2 %

Shares of PENG stock traded down $0.60 on Thursday, hitting $18.36. The stock had a trading volume of 1,203,960 shares, compared to its average volume of 1,036,489. Penguin Solutions has a one year low of $14.87 and a one year high of $29.81. The business has a 50 day moving average price of $17.58. The company has a market capitalization of $978.40 million, a P/E ratio of -18.36 and a beta of 1.74. 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 issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $325.00 million. Penguin Solutions had a positive return on equity of 8.05% and a negative net margin of 4.48%. Equities research analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Insider Activity at Penguin Solutions

In related news, COO Jack A. Pacheco sold 13,334 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $20.05, for a total transaction of $267,346.70. Following the sale, the chief operating officer now directly owns 235,960 shares of the company's stock, valued at $4,730,998. This trade represents a 5.35 % decrease in their ownership of the stock. 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 that occurred on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total value of $39,620.00. Following the completion of 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. 2.40% of the stock is owned by 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.