Rosenblatt Raises its Price Target on Penguin Solutions. (PENG) to $32

Penguin Solutions, Inc. (NASDAQ:PENG) is one of the 10 Best Stocks That Beat Earnings Estimates. On April 2, 2026, Rosenblatt raised the price target on Penguin Solutions, Inc. (NASDAQ:PENG) to $32 from $30 and maintained a Buy rating, following a fiscal Q2 report that exceeded expectations and prompted management to raise its FY26 revenue growth outlook to 12% from 6%. The firm noted the company added five new customers in its advanced computing segment, highlighting continued expansion beyond hyperscalers as a driver of more consistent and profitable growth.

On the same day, Needham raised its price target on Penguin Solutions, Inc. (NASDAQ:PENG) to $27 from $25 and maintained a Buy rating.

On April 1, 2026, Penguin Solutions, Inc. (NASDAQ:PENG) reported Q2 adjusted EPS of 52c, above the 42c consensus estimate, with revenue of $343M versus $339M consensus. CEO Kash Shaikh pointed to strong demand from enterprises, governments, and cloud providers building AI infrastructure, noting the company added five AI/HPC customers during the quarter and continues to see momentum in its pipeline, supported by growing demand for memory-driven AI workloads.

Rosenblatt Raises its Price Target on Penguin Solutions. (PENG) to $32

Penguin Solutions, Inc. (NASDAQ:PENG) provides enterprise solutions across advanced computing, memory, and LED technologies.

While we acknowledge the risk and potential of PENG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PENG and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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