Penguin Solutions shares are trading lower. The company reported Q4 financial results. Also, Needham maintained a Buy rating on the stock but lowered its price target from $35 to $25.
Portfolio Pulse from Benzinga Newsdesk
Penguin Solutions' shares are trading lower following the release of their Q4 financial results. Needham has maintained a Buy rating on the stock but has lowered its price target from $35 to $25.
October 16, 2024 | 11:49 am
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Penguin Solutions' shares are declining after the company released its Q4 financial results. Despite maintaining a Buy rating, Needham has reduced its price target from $35 to $25, indicating a less optimistic outlook.
The decline in Penguin Solutions' share price is likely due to the market's reaction to the Q4 financial results and the reduced price target by Needham. The maintained Buy rating suggests some confidence in the stock, but the lower price target indicates a more cautious outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100