Penguin Solutions, Inc. (NASDAQ:PENG) Stock Has Average Price Target of $63.33

Penguin Solutions, Inc. (NASDAQ:PENG) has received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $64.17.

A number of equities analysts have commented on PENG shares. Barclays cut 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. Zacks Research cut shares of Penguin Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Stifel Nicolaus increased their price target on shares of Penguin Solutions from $66.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price target on shares of Penguin Solutions in a research report on Friday. Finally, Citigroup reissued an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th.

Penguin Solutions Stock Down 1.1%

NASDAQ PENG opened at $60.71 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.10 and a current ratio of 1.54. The company has a market capitalization of $3.11 billion, a P/E ratio of 43.06 and a beta of 2.86. Penguin Solutions has a one year low of $16.04 and a one year high of $89.86. The stock has a 50 day moving average price of $53.39 and a 200-day moving average price of $49.24.

Penguin Solutions (NASDAQ:PENG) last announced its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.21. The company had revenue of $478.71 million for the quarter, compared to analysts’ expectations of $407.47 million. Penguin Solutions had a net margin of 6.44% and a return on equity of 28.23%. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, equities analysts predict that Penguin Solutions will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 value of $202,320.00. Following the sale, the senior vice president directly owned 112,994 shares of the company’s stock, valued at $5,715,236.52. This represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $57.47, for a total transaction of $76,262.69. Following the completion of the sale, the senior vice president directly owned 63,056 shares of the company’s stock, valued at approximately $3,623,828.32. The trade was a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new position in Penguin Solutions during the 2nd quarter valued at $26,000. Allworth Financial LP purchased a new stake in Penguin Solutions in the second quarter worth $37,000. Nykredit A S bought a new stake in shares of Penguin Solutions during the second quarter worth $42,000. Polaris Financial Partners bought a new stake in shares of Penguin Solutions during the third quarter worth $50,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Penguin Solutions during the second quarter valued at $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.