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

Penguin Solutions (NASDAQ:PENG) had its price target cut by research analysts at The Goldman Sachs Group from $26.00 to $22.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 48.12% from the company’s current price.

PENG has been the subject of a number of other reports. Barclays boosted their target price on shares of Penguin Solutions from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Rosenblatt Securities restated a “buy” rating and issued a $27.00 target price on shares of Penguin Solutions in a research note on Thursday. JPMorgan Chase & Co. started coverage on shares of Penguin Solutions in a research note on Monday, March 31st. They set a “neutral” rating and a $20.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $27.00 price objective on shares of Penguin Solutions in a research note on Thursday. Finally, Loop Capital initiated coverage on Penguin Solutions in a research report on Tuesday, January 7th. They set a “buy” rating and a $30.00 target price for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.94.

Penguin Solutions Trading Down 6.2 %

Penguin Solutions stock opened at $15.19 on Thursday. Penguin Solutions has a 12-month low of $14.23 and a 12-month 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 business has a 50-day moving average price of $19.35. The company has a market cap of $809.49 million, a price-to-earnings ratio of -29.21 and a beta of 1.83.

Penguin Solutions (NASDAQ:PENG) last released 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. Penguin Solutions had a positive return on equity of 11.70% and a negative net margin of 2.21%. The firm had revenue of $365.52 million for the quarter, compared to analysts’ expectations of $344.44 million. The business’s quarterly 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 fiscal year.

Insider Transactions at Penguin Solutions

In other news, EVP Jack A. Pacheco sold 3,219 shares of Penguin Solutions stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $20.00, for a total value of $64,380.00. Following the transaction, the executive vice president now owns 231,548 shares of the company’s stock, valued at $4,630,960. The trade was a 1.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph Gates Clark sold 2,131 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $20.94, for a total transaction of $44,623.14. Following the transaction, the senior vice president now owns 89,469 shares of the company’s stock, valued at approximately $1,873,480.86. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,684 shares of company stock valued at $393,617. Corporate insiders own 2.60% of the company’s stock.

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.