Penguin Solutions price target raised to $80 from $60 at Needham

Needham raised the firm's price target on Penguin Solutions to $80 from $60 and keeps a Buy rating on the shares. The company has delivered a strong quarter, increasing AI-driven Sales by 104%y/y and raising its revenue guidance across all three segments, the analyst tells investors in a research note. The management's FY27 outlook is also demonstrating the management's belief that it is in the early stages of a significant, long-term, profitable growth opportunity, the firm added.