Penguin Solutions Hits Record Q3 Revenue, Analysts Raise Price Target to $119

Key Facts

1Penguin Solutions delivered record Q3 2026 revenue of $479M, representing a 48% year-over-year increase.

2Earnings per share (EPS) surged 79% to $0.84, while non-GAAP operating income grew by 67%.

In a move reflecting robust operational performance within the technology solutions sector, Penguin Solutions reported record-breaking financial results for the third quarter of 2026. According to reports, the company delivered revenue of $479M, representing a 48% year-over-year increase. Earnings per share (EPS) surged by 79% to reach $0.84, supported by a 67% growth in non-GAAP operating income.

These strong results have bolstered analyst confidence in the company's growth trajectory, leading to a reiterated "Strong Buy" rating and an increased price target of $119. The data indicates that the company continues to trade at valuation multiples below sector medians despite significant growth in revenue and EBITDA. Per market data, PENG shares closed at $51.43 on July 30, 2026, within a daily range of $46.2 to $51.54.

Looking ahead, traders are monitoring the sustainability of this price momentum following the close at $51.43 (close July 30, 2026). With no immediate catalysts in the upcoming economic calendar directly related to the firm, focus remains on technical support and resistance levels, where $51.54 represents the recent daily high and $46.2 serves as a key support level based on recent price action.