Stifel lowered the firm’s price target on Penguin Solutions (PENG) to $24 from $27 and keeps a Buy rating on the shares after the company reported fiscal Q2 revenue and non-GAAP EPS that exceeded the firm’s and consensus estimates and increased its full-year FY26 revenue growth forecast, driven by memory strength. However, constrained supply of key components and memory contributes to a softer outlook for Advanced Computing, the analyst noted.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PENG:
- Closing Bell Movers: Globalstar spikes on acquisition report
- Penguin Solutions reports Q2 adjusted EPS 52c, consensus 42c
- Penguin Solutions sees FY26 EPS $2.15, plus or minus 15c, consensus $2.45
- Penguin Solutions Completes Strategic Exit from Brazilian Operations
- Penguin Solutions divests remaining interest in Brazil memory module business