Penguin Solutions’ (PENG) Buy Rating Reaffirmed at Rosenblatt Securities

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a research report issued on Thursday,Benzinga reports. They currently have a $27.00 price objective on the stock. Rosenblatt Securities’ price target suggests a potential upside of 42.41% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 target price on the stock. Citizens Jmp raised Penguin Solutions to a “strong-buy” rating in a research report on Monday, November 18th. Needham & Company LLC decreased their price objective on 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 lowered their price objective on shares of Penguin Solutions from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, JMP Securities assumed coverage on shares of Penguin Solutions in a research report on Monday, November 18th. They set an “outperform” rating and a $23.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $24.17.

Penguin Solutions Price Performance

Shares of NASDAQ PENG opened at $18.96 on Thursday. The company has a market capitalization of $1.01 billion, a P/E ratio of -18.96 and a beta of 1.74. The stock has a 50-day moving average price of $17.58. 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.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing the consensus estimate 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 negative net margin of 4.48% and a positive return on equity of 8.05%. As a group, equities research analysts expect that Penguin Solutions will post 1.33 EPS for the current year.

Insider Buying and Selling at Penguin Solutions

In other news, insider Joseph Gates Clark sold 2,264 shares of the company’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 transaction, the insider now owns 95,999 shares in the company, valued at $1,679,982.50. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jack A. Pacheco sold 13,334 shares of Penguin Solutions stock in a transaction that occurred 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 completion of 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 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.