Penguin Solutions (NASDAQ:PENG) Shares Gap Up – Here’s What Happened

Penguin Solutions, Inc. (NASDAQ:PENG)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $57.10, but opened at $60.50. Penguin Solutions shares last traded at $57.8480, with a volume of 536,256 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on PENG shares. Stifel Nicolaus boosted their price objective on shares of Penguin Solutions from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Needham & Company LLC increased their price objective on shares of Penguin Solutions from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Rosenblatt Securities raised their target price on shares of Penguin Solutions from $80.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Citizens Jmp raised their target price on shares of Penguin Solutions from $65.00 to $85.00 and gave the company a “market outperform” rating in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $85.00 target price on shares of Penguin Solutions in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.50.

Penguin Solutions Price Performance

The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 0.67 and a beta of 2.86. The company has a current ratio of 1.88, a quick ratio of 1.25 and a debt-to-equity ratio of 1.37. The company’s 50 day simple moving average is $56.44 and its 200-day simple moving average is $53.10.

Penguin Solutions (NASDAQ:PENG) last posted its quarterly earnings data on Tuesday, October 6th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.23. The business had revenue of $566.68 million during the quarter, compared to analyst estimates of $520.99 million. Penguin Solutions had a net margin of 10.43% and a return on equity of 36.71%. During the same quarter in the previous year, the business posted $0.11 earnings per share. Penguin Solutions has set its FY 2027 guidance at 3.750-5.15 EPS. On average, equities research analysts predict that Penguin Solutions, Inc. will post 4.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of Penguin Solutions stock in a transaction that occurred 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 sale, the senior vice president directly owned 112,994 shares of the company’s stock, valued at approximately $5,715,236.52. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Penguin Solutions stock in a transaction that occurred on 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 $3,623,828.32. The trade was a 2.06% decrease in their ownership of the stock. 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 company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in shares of Penguin Solutions during the 2nd quarter worth about $26,000. Allworth Financial LP purchased a new stake in Penguin Solutions in the second quarter valued at approximately $37,000. Nykredit A S purchased a new stake in Penguin Solutions in the second quarter valued at approximately $42,000. Polaris Financial Partners purchased a new stake in Penguin Solutions in the third quarter valued at approximately $50,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Penguin Solutions in the second quarter valued at approximately $74,000.

About Penguin Solutions

Penguin Solutions, Inc provides technology products and services for data center, cloud, artificial intelligence, high-performance computing, edge computing and embedded applications. The company designs and delivers memory products, computing platforms and integrated infrastructure intended to help organizations manage demanding workloads and deploy specialized technology environments.

Its offerings include memory modules and other memory-related products, high-performance computing systems, servers, storage and networking solutions, and software and services for infrastructure management.