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Penguin Solutions Inc (NASDAQ:PENG) has projected a 6% revenue increase for fiscal 2026, falling short of analysts’ expectation of 10%, amid limited short-term clarity regarding new hardware rollouts for Meta Platforms Inc (NASDAQ:META), as per Rosenblatt Securities’ analysis.
Analyst Insight: Kevin Cassidy, the analyst, has maintained a Buy rating while adjusting the price target from $36 to $30.
Company Performance: The firm reported a 17% revenue increase to $1.37 billion, aligning with its guidance, though the fourth-quarter results slightly missed market expectations, Cassidy noted.
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Management’s revenue forecast for fiscal 2026 is based solely on software and services income from Meta, Cassidy explained.
The absence of new hardware deployments by Meta might stem from “scheduling related to Meta’s current RSC development and Penguin’s fiscal framework,” the analyst observed, anticipating a return to hardware deployments involving Penguin in fiscal 2026.
Additionally, Penguin has been gaining more enterprise clients, Cassidy mentioned. “We recognize considerable potential in Penguin’s HPC/AI software and services as enterprise AI adoption increases and suggest acquiring PENG shares during any downturns related to Meta’s hardware order timeline,” he added.
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