Penguin Solutions (NASDAQ:PENG) Given Buy Rating at Rosenblatt Securities

Penguin Solutions (NASDAQ:PENG - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Rosenblatt Securities in a research note issued on Thursday,Benzinga reports. They currently have a $27.00 price target on the stock. Rosenblatt Securities' price objective would suggest a potential upside of 28.24% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group reduced their price target on shares of Penguin Solutions from $26.00 to $22.50 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Wall Street Zen raised Penguin Solutions from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and set a $27.00 price target on shares of Penguin Solutions in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. began coverage on Penguin Solutions in a research report on Monday, March 31st. They set a "neutral" rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Penguin Solutions currently has a consensus rating of "Buy" and a consensus price target of $24.94.

Penguin Solutions Price Performance

Shares of PENG traded up $0.86 during trading hours on Thursday, hitting $21.06. 643,421 shares of the company were exchanged, compared to its average volume of 867,460. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.63 and a quick ratio of 2.21. The company has a market capitalization of $1.11 billion, a PE ratio of -123.85 and a beta of 1.98. The firm has a fifty day simple moving average of $18.86 and a 200-day simple moving average of $18.90. Penguin Solutions has a one year low of $14.20 and a one year high of $22.67.

Penguin Solutions (NASDAQ:PENG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 2nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.19. Penguin Solutions had a positive return on equity of 13.15% and a negative net margin of 0.46%. The firm had revenue of $365.52 million for the quarter, compared to the consensus estimate of $344.44 million. The company's revenue was up 28.3% on a year-over-year basis. As a group, sell-side analysts predict that Penguin Solutions will post 1.05 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Penguin Solutions during the 1st quarter worth about $111,458,000. Alliancebernstein L.P. bought a new position in Penguin Solutions during the first quarter valued at approximately $28,919,000. Paradigm Capital Management Inc. NY bought a new position in Penguin Solutions during the first quarter valued at approximately $19,545,000. Think Investments LP acquired a new stake in Penguin Solutions in the first quarter valued at approximately $15,713,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in Penguin Solutions in the first quarter worth approximately $14,786,000.

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.