Needham raised the firm’s price target on Penguin Solutions (PENG) to $27 from $25 and keeps a Buy rating on the shares. Penguin reported “a very strong quarter” and implied fiscal Q2 guidance “well above our estimates,” driven by the key Advanced Compute segment, the analyst tells investors. The firm “can’t help but feel overall estimates have swung conservative given the report and commentary,” the analyst added.
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Read More on PENG:
- Needham Lifts Price Target on PENG Stock Due to ‘Strong Start to the Year’
- Penguin Solutions Reports Strong Q1 Fiscal 2025 Results
- Closing Bell Movers: Penguin Solutions up 16% on earnings beat
- Penguin Solutions says H2 won’t have benefit of large customer order from H1
- Penguin Solutions reports Q1 adjusted EPS 49c, consensus 39c
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