Needham analyst Nick Doyle initiates coverage on $Penguin Solutions (PENG.US)$ with a buy rating, and sets the target price at $27.
According to TipRanks data, the analyst has a success rate of 0.0% and a total average return of -17.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Penguin Solutions (PENG.US)$'s main analysts recently are as follows:
Following the Q1 report, the resurgence of a major hyperscale customer, comparable to large social media platforms, for a third-generation system has alleviated concerns about the company's continued growth trajectory in advanced computing. Despite current strengths, the company's consistent guidance suggests a more uneven performance in the latter half of the year. Nonetheless, qualitative indicators for the company are significantly more positive, presenting a robust outlook for the stock.
Penguin Solutions reported a very strong quarter and indicated fiscal Q2 guidance that was considerably above estimates, primarily propelled by the key Advanced Compute segment. It appears that overall estimates may be seen as conservative in light of the recent report and management's commentary.
Note:
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