- Earnings Beat: Penguin Solutions reported a robust Non-GAAP EPS of $0.47, outpacing forecasts.
- Revenue Highlights: Revenue grew 7.9% year-over-year, yet fell short of projections.
- Analyst Insights: Forecasts suggest a significant upside potential for the stock price.
Penguin Solutions (PENG, Financial) delivered an impressive Non-GAAP earnings per share (EPS) of $0.47 for the third quarter, surpassing analyst expectations by a notable $0.15. The company's strong performance in terms of earnings has caught investor attention, despite its revenue figures. The revenue came in at $324.25 million, representing a solid 7.9% increase compared to the previous year. However, it unfortunately missed projections by $3.83 million, which contributed to a 6.09% decline in after-hours trading prices.
Wall Street Analysts Forecast
According to the one-year price targets provided by four analysts, Penguin Solutions Inc (PENG, Financial) has an average target price of $32.25, with the highest estimate reaching $35.00 and the lowest at $27.00. This average target suggests a promising upside of 52.19% from the current trading price of $21.19. Investors can explore more detailed estimates by visiting the Penguin Solutions Inc (PENG) Forecast page.
The consensus recommendation from four brokerage firms positions Penguin Solutions Inc (PENG, Financial) with an average brokerage recommendation score of 1.8, indicating an "Outperform" rating. The scale ranges from 1 to 5, where 1 denotes a Strong Buy, and 5 signifies Sell.
Utilizing GuruFocus metrics, the estimated GF Value for Penguin Solutions Inc (PENG, Financial) in the coming year is projected at $22.97, suggesting a potential upside of 8.4% from the current price level of $21.19. The GF Value represents GuruFocus' valuation of the fair trading price for the stock, derived from historical trading multiples, past business growth, and future performance projections. For further insights into the company's market position and financials, interested investors can visit the Penguin Solutions Inc (PENG) Summary page.
