Penguin Solutions (PENG) reached a new 52-week high on July 9, 2026, with shares briefly touching $80. Stifel Nicolaus raised its price target from $66 to $75 and maintained a buy rating. Needham and Rosenblatt Securities also increased their price targets following the update.
The company reported third-quarter fiscal 2026 net sales of $478.7 million. Earnings per share reached $0.84, surpassing market expectations. Penguin Solutions added four new AI infrastructure customers to its pipeline during the quarter.
Management raised the full-year outlook based on strong demand. The company projects approximately 30% growth in both net sales and EPS for fiscal 2027.