Penguin Solutions (NASDAQ:PENG) Stock Picked Up by Analysts at Bank of America

Research analysts at Bank of America initiated coverage on shares of Penguin Solutions (NASDAQ:PENG) in a report released on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $100.00 price target on the stock. Bank of America‘s price objective would indicate a potential upside of 39.72% from the company’s previous close.

Several other analysts also recently issued reports on the company. Wall Street Zen downgraded Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a report on Wednesday, July 8th. Rosenblatt Securities boosted their target price on shares of Penguin Solutions from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Zacks Research downgraded shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Finally, Barclays raised their price target on shares of Penguin Solutions from $40.00 to $60.00 and gave the stock an “underweight” rating in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Penguin Solutions Stock Down 1.4%

Shares of PENG opened at $71.57 on Friday. The firm has a market cap of $3.67 billion, a P/E ratio of 27.63 and a beta of 2.86. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.10 and a current ratio of 1.88. Penguin Solutions has a 52 week low of $16.04 and a 52 week high of $89.86. The firm’s 50-day simple moving average is $54.69 and its 200 day simple moving average is $50.34.

Penguin Solutions (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, October 6th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.23. Penguin Solutions had a return on equity of 36.71% and a net margin of 10.43%.The company had revenue of $566.68 million during the quarter, compared to analysts’ expectations of $520.99 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. On average, analysts forecast that Penguin Solutions will post 2.87 earnings per share for the current year.

Insiders Place Their Bets

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

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in shares of Penguin Solutions during the 2nd quarter valued at approximately $26,000. Allworth Financial LP bought a new position in Penguin Solutions in the 2nd quarter valued at approximately $37,000. Nykredit A S bought a new position in Penguin Solutions in the 2nd quarter valued at approximately $42,000. Polaris Financial Partners acquired a new stake in Penguin Solutions in the third quarter valued at approximately $50,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Penguin Solutions in the second quarter valued at approximately $74,000.

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.