Rosenblatt Securities Reaffirms “Buy” Rating for Penguin Solutions (NASDAQ:PENG)

Penguin Solutions (NASDAQ:PENG)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $80.00 price objective on the stock. Rosenblatt Securities’ price objective points to a potential upside of 31.99% from the stock’s previous close.

Several other research firms have also commented on PENG. Barclays lowered 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 research note on Monday, July 20th. Wall Street Zen lowered shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 26th. Stifel Nicolaus raised their price objective on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Citizens Jmp increased their price target on Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 8th. Finally, Needham & Company LLC increased their price target on Penguin Solutions from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.17.

Penguin Solutions Trading Up 10.2%

Penguin Solutions stock traded up $5.63 during trading on Friday, hitting $60.61. The company had a trading volume of 633,241 shares, compared to its average volume of 2,276,342. Penguin Solutions has a 1-year low of $16.04 and a 1-year high of $89.86. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.65. The company’s 50 day simple moving average is $53.08 and its 200-day simple moving average is $48.63. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 42.99 and a beta of 2.86.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share for the quarter, beating 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 firm had revenue of $478.71 million during the quarter, compared to the consensus estimate of $407.47 million. During the same quarter last year, the firm earned $0.52 EPS. As a group, analysts expect that Penguin Solutions will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling at Penguin Solutions

In related news, SVP Joseph Clark sold 1,327 shares of the stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $57.47, for a total value of $76,262.69. Following the transaction, the senior vice president owned 63,056 shares of the company’s stock, valued at $3,623,828.32. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Anne Kuykendall sold 4,000 shares of the 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 transaction, the senior vice president directly owned 112,994 shares in the company, valued at $5,715,236.52. This trade represents a 3.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Penguin Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in shares of Penguin Solutions in the second quarter valued at approximately $26,000. Allworth Financial LP acquired a new stake in shares of Penguin Solutions in the second quarter valued at approximately $37,000. Nykredit A S acquired a new stake in shares of Penguin Solutions in the second quarter valued at approximately $42,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Penguin Solutions in the second quarter valued at approximately $74,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Penguin Solutions in the second quarter valued at approximately $92,000.

Penguin Solutions Company Profile

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.