Penguin Solutions (NASDAQ:PENG) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Key Points

• Rosenblatt Securities has raised the price target for Penguin Solutions (NASDAQ:PENG) from $27.00 to $36.00, indicating a potential upside of 36.99% from the stock's previous close.
• The stock has received various ratings, with a consensus of "Moderate Buy" and an average price target of $28.25 according to MarketBeat's data.
• Insider transactions revealed recent stock sales, including an Executive VP selling 63,447 shares, aligning with a trend of significant insider selling over the past quarter.

Penguin Solutions (NASDAQ:PENG - Get Free Report) had its price target lifted by stock analysts at Rosenblatt Securities from $27.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities' price target would suggest a potential upside of 36.99% from the stock's previous close.

PENG has been the topic of a number of other reports. Loop Capital upped their price objective on Penguin Solutions from $30.00 to $35.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen downgraded shares of Penguin Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. The Goldman Sachs Group upped their price target on shares of Penguin Solutions from $22.50 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. JMP Securities restated a "market outperform" rating and issued a $26.00 price target on shares of Penguin Solutions in a research note on Wednesday, July 9th. Finally, Zacks Research lowered shares of Penguin Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.25.

Penguin Solutions Stock Up 0.5%

Shares of PENG opened at $26.28 on Wednesday. Penguin Solutions has a 52 week low of $14.20 and a 52 week high of $28.20. The firm has a market cap of $1.38 billion, a P/E ratio of -93.85 and a beta of 2.13. The firm's 50-day simple moving average is $24.85 and its 200 day simple moving average is $21.01. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.24 and a current ratio of 2.62.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 8th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.17. Penguin Solutions had a negative net margin of 0.68% and a positive return on equity of 13.27%. The business had revenue of $324.25 million for the quarter, compared to analyst estimates of $330.82 million. Penguin Solutions has set its FY 2025 guidance at 1.750-1.850 EPS. On average, analysts forecast that Penguin Solutions will post 1.05 earnings per share for the current year.

Insider Transactions at Penguin Solutions

In related news, EVP Jack A. Pacheco sold 63,447 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $24.83, for a total transaction of $1,575,389.01. Following the sale, the executive vice president owned 227,231 shares in the company, valued at approximately $5,642,145.73. This trade represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Penny Herscher sold 2,046 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $25.42, for a total value of $52,009.32. Following the completion of the sale, the director directly owned 18,222 shares in the company, valued at approximately $463,203.24. This represents a 10.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,175 shares of company stock worth $1,644,448 over the last quarter. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of Penguin Solutions

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new stake in Penguin Solutions in the first quarter valued at about $111,458,000. Alliancebernstein L.P. acquired a new stake in shares of Penguin Solutions in the 1st quarter valued at approximately $28,919,000. Paradigm Capital Management Inc. NY boosted its stake in shares of Penguin Solutions by 2.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,153,100 shares of the company's stock valued at $22,843,000 after purchasing an additional 27,900 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Penguin Solutions by 71.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 986,633 shares of the company's stock valued at $19,545,000 after purchasing an additional 411,527 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Penguin Solutions by 19.5% in the 2nd quarter. American Century Companies Inc. now owns 956,715 shares of the company's stock valued at $18,953,000 after purchasing an additional 156,361 shares in the last quarter.

About Penguin Solutions

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.

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