Penguin Solutions, Inc. (NASDAQ:PENG) Stock Has Consensus Target Price of $63.33 According to Analysts

Shares of Penguin Solutions, Inc. (NASDAQ:PENG) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $63.33.

Several equities analysts have recently weighed in on the stock. Citizens Jmp raised their price target on shares of Penguin Solutions from $65.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Barclays downgraded shares of Penguin Solutions from an “equal weight” rating to an “underweight” rating and set a $40.00 price objective for the company. in a report on Monday, July 20th. Needham & Company LLC raised their target price on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Rosenblatt Securities boosted their target price on Penguin Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, July 6th.

Penguin Solutions Stock Up 0.5%

NASDAQ PENG opened at $54.98 on Tuesday. The business has a fifty day moving average price of $53.08 and a 200 day moving average price of $48.63. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The company has a market cap of $2.82 billion, a P/E ratio of 38.99 and a beta of 2.86. Penguin Solutions has a one year low of $16.04 and a one year high of $89.86.

Penguin Solutions (NASDAQ:PENG) last announced its earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.21. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. The company had revenue of $478.71 million for the quarter, compared to analysts’ expectations of $407.47 million. During the same quarter in the previous year, the company posted $0.52 EPS. Research analysts anticipate that Penguin Solutions will post 2.08 EPS for the current fiscal year.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, SVP Joseph Clark sold 1,327 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the transaction, the senior vice president owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $50.58, for a total value of $202,320.00. Following the completion of the sale, the senior vice president owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. The trade was a 3.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Penguin Solutions during the second quarter worth about $26,000. Allworth Financial LP purchased a new position in Penguin Solutions during the second quarter worth about $37,000. Nykredit A S acquired a new position in Penguin Solutions in the 2nd quarter valued at about $42,000. Public Employees Retirement System of Ohio acquired a new position in Penguin Solutions in the 2nd quarter valued at about $74,000. Finally, Morgan Dempsey Capital Management LLC purchased a new stake in shares of Penguin Solutions in the 4th quarter valued at approximately $78,000.

About Penguin Solutions

Penguin Solutions, Inc provides intelligent infrastructure solutions for artificial intelligence, high-performance computing, enterprise data centers and other demanding technology environments. The company combines specialized hardware, software and professional services to help organizations design, deploy and manage complex computing infrastructure.

Its offerings include AI and high-performance computing systems, servers, storage and networking infrastructure, as well as software and services for infrastructure management, optimization and support.