Penguin Solutions Inc (NASDAQ:PENG) on Tuesday reported upbeat financial results for the fourth quarter.
Penguin Solutions reported $566.69 million in revenue for the fourth quarter, beating analyst estimates of $516.12 million, according to Benzinga Pro. Total revenue was up 68% on a year-over-year basis. The AI factory platform company posted fourth-quarter adjusted earnings of $1 per share, beating estimates of 78 cents per share.
Penguin Solutions guided for fiscal 2027 revenue of $2.25 billion to $2.60 billion versus estimates of $2.20 billion. The company also guided for full-year adjusted earnings of $3.75 to $5.15 per share versus estimates of $3.25 per share.
“Our company performance accelerated significantly in the second half of fiscal 2026 following the launch of our AI Factory Platform and increased focus on the data center market. We prioritized and aligned our AI Infrastructure and Memory businesses with strong AI-driven data center demand, increased investment in product innovation, and sharpened go-to-market execution with a focus on making neocloud and enterprise customers successful,” said Kash Shaikh, president and CEO of Penguin Solutions.
In connection with earnings, Penguin announced that it appointed Stephen Cumming as senior vice president and CFO, effective immediately
Penguin Solutions shares rose 4.4% to $67.04 in pre-market trading.
These analysts made changes to their price targets on Penguin Solutions following earnings announcement.
- Needham analyst Matthew Calitri maintained the stock with a Buy and raised the price target from $80 to $85.
- Stifel analyst Brian Chin maintained the stock with a Buy and raised the price target from $75 to $85.
Considering buying PENG stock? Here’s what analysts think:
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