Penguin Solutions: Analyst Says Buy The Stock On 'Weakness Tied To Meta's Hardware Order Timing'
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Penguin Solutions Inc (NASDAQ:PENG) is projected to achieve 6% revenue growth for fiscal 2026, below the expected 10%. Analyst Kevin Cassidy from Rosenblatt Securities maintains a Buy rating but lowers the price target from $36 to $30. The company’s revenue grew 17% to $1.37 billion, aligning with guidance, but fourth-quarter revenue fell slightly short of consensus. Cassidy attributes the limited visibility into new hardware deployments for Meta Platforms Inc (NASDAQ:META) to timing issues and recommends buying PENG shares on weakness related to this situation. PENG shares dropped 15.52% to $22.81.
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