Penguin Solutions (NASDAQ:PENG) Price Target Lowered to $22.50 at The Goldman Sachs Group

Penguin Solutions (NASDAQ:PENG) had its target price lowered by The Goldman Sachs Group from $26.00 to $22.50 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Loop Capital began coverage on Penguin Solutions in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Penguin Solutions in a research note on Monday. They set a “neutral” rating and a $20.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday. Barclays upped their price target on Penguin Solutions from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $27.00 price objective on shares of Penguin Solutions in a research report on Thursday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Penguin Solutions presently has a consensus rating of “Buy” and a consensus target price of $24.94.

Penguin Solutions Stock Performance

Shares of NASDAQ PENG opened at $16.19 on Thursday. The firm has a market cap of $862.78 million, a price-to-earnings ratio of -31.13 and a beta of 1.83. Penguin Solutions has a fifty-two week low of $14.87 and a fifty-two week high of $22.67. The company has a quick ratio of 1.75, a current ratio of 2.33 and a debt-to-equity ratio of 1.61. The stock’s 50-day simple moving average is $19.46.

Penguin Solutions (NASDAQ:PENG) last posted its earnings results on Wednesday, April 2nd. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.19. The firm had revenue of $365.52 million for the quarter, compared to the consensus estimate of $344.44 million. Penguin Solutions had a negative net margin of 2.21% and a positive return on equity of 11.70%. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, sell-side analysts forecast that Penguin Solutions will post 1.05 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Jack A. Pacheco sold 6,667 shares of Penguin Solutions stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $20.55, for a total transaction of $137,006.85. Following the transaction, the chief operating officer now directly owns 231,548 shares in the company, valued at approximately $4,758,311.40. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph Gates Clark sold 2,131 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total value of $44,623.14. Following the sale, the senior vice president now directly owns 89,469 shares in the company, valued at $1,873,480.86. This trade represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,684 shares of company stock valued at $393,617. 2.60% of the stock is currently owned by company insiders.

Penguin Solutions Company Profile

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.