• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Penguin Solutions stock likely to surge on Friday after robust first-quarter results

by January 9, 2025
written by January 9, 2025

Investing.com — Shares of Penguin Solutions (NASDAQ:PENG) leaped 17% in afterhours trade Wednesday following the company’s fiscal first-quarter earnings release, which exceeded Wall Street expectations.

The semiconductor device company’s performance was particularly bolstered by its Advanced Computing unit, which analysts have identified as a standout in the report.

Penguin Solutions’ financial results showcased a solid start to the fiscal year, with sales and profit surpassing analyst forecasts. The company’s Advanced Computing segment has been instrumental in driving this growth, a fact underscored by Needham analyst Nick Doyle.

In a note to clients, Doyle remarked, “Advance Compute revenue is running well above our 1H25 estimates on the delivery and completion of two large projects,” highlighting the segment’s significant contribution to the company’s overall performance.

The positive sentiment was echoed by Needham’s broader analysis, which suggests that the second half of the fiscal year might be set for a conservative estimate. The firm maintains a ‘Buy’ rating on Penguin Solutions, raising its price target to $27 from $25, with the expectation that the

Advanced Computing growth could significantly surpass the high end of the company’s guidance, especially if one or two customer wins materialize.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Build exposure to quality AI stocks via buy-the-dip strategy: UBS
next post
Gabelli urges court to demand Paramount’s merger records with Skydance, Bloomberg reports

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Earnings call: Exelixis reports solid growth, raises 2024 revenue guidance
    • Steel Dynamics beats Q3 estimates, shares rise

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy