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.

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

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