Citizens Jmp Increases Penguin Solutions (NASDAQ:PENG) Price Target to $85.00

Penguin Solutions (NASDAQ:PENG) had its price target boosted by equities researchers at Citizens Jmp from $65.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target suggests a potential upside of 35.54% from the company’s previous close.

A number of other research analysts have also recently commented on PENG. Stifel Nicolaus raised their price target on shares of Penguin Solutions from $24.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Needham & Company LLC increased their target price on Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a research report on Wednesday. Rosenblatt Securities boosted their price target on Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Monday. Finally, Zacks Research upgraded Penguin Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.25.

Penguin Solutions Price Performance

NASDAQ:PENG opened at $62.71 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.55 and a current ratio of 2.10. The company has a 50-day moving average of $55.60 and a 200-day moving average of $32.67. Penguin Solutions has a 52 week low of $16.04 and a 52 week high of $77.40. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 87.10 and a beta of 2.83.

Insiders Place Their Bets

In related news, SVP Joseph Gates Clark sold 12,546 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $22.55, for a total transaction of $282,912.30. Following the sale, the senior vice president directly owned 99,726 shares in the company, valued at $2,248,821.30. This represents a 11.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sandeep Nayyar sold 12,893 shares of Penguin Solutions stock in a transaction on Monday, May 11th. The shares were sold at an average price of $45.09, for a total value of $581,345.37. Following the completion of the transaction, the director owned 32,524 shares of the company’s stock, valued at approximately $1,466,507.16. The trade was a 28.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 83,120 shares of company stock valued at $3,486,734 over the last quarter. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Penguin Solutions

A number of institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in shares of Penguin Solutions by 187.0% during the fourth quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Penguin Solutions in the 4th quarter worth approximately $29,000. Raymond James Financial Inc. acquired a new position in Penguin Solutions during the 2nd quarter worth $37,000. Allworth Financial LP lifted its holdings in Penguin Solutions by 41.4% during the 3rd quarter. Allworth Financial LP now owns 1,792 shares of the company’s stock worth $47,000 after buying an additional 525 shares in the last quarter. Finally, Torren Management LLC bought a new position in Penguin Solutions in the 4th quarter valued at $48,000.

Key Penguin Solutions News

Here are the key news stories impacting Penguin Solutions this week:

• Positive Sentiment: Penguin Solutions posted a quarterly earnings beat, reporting $0.84 per share versus estimates around $0.56 to $0.63, with revenue of $478.7 million topping forecasts by a wide margin. Article Title
• Positive Sentiment: The company said Q3 produced record quarterly results and it raised its full-year fiscal 2026 outlook, signaling confidence in continued momentum. Article Title
• Positive Sentiment: Management highlighted “very strong” AI-driven demand, which suggests the company is benefiting from growth in its higher-value infrastructure and computing businesses. Article Title
• Positive Sentiment: Rosenblatt Securities raised its price target on PENG to $75 from $65 and reiterated a buy rating, reinforcing bullish sentiment after the earnings release. Article Title
• Neutral Sentiment: Several pre-earnings articles noted that PENG was in focus ahead of the report, but the main driver now is the actual results and raised guidance rather than speculation. Article Title
• Neutral Sentiment: Seeking Alpha published the earnings transcript and presentation, which may help investors dig into segment trends and management commentary, but these are reference materials rather than new catalysts. Article Title

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.