Citizens analyst Rustam Kanga has reiterated a Market Outperform rating on Penguin Solutions, Inc. stock with a price target of $26.00. This rating affirmation occurred on January 13.
The analyst met with Penguin Solutions CEO Mark Adams and CFO Nate Olmstead at the Bellagio hotel during the 2026 Consumer Electronics Show in Las Vegas. The meeting focused on the company's enterprise and sovereign AI opportunities.
Penguin Solutions stock has declined an estimated 0.9% year-to-date, underperforming the Russell 3000 index. Despite this recent underperformance, the firm anticipates PENG will outperform the broader market.
The firm's price target reflects PENG stock's valuation, with particular focus on its exposure to artificial intelligence. Penguin Solutions is described as a leading AI and HPC computing company engaged in designing and developing enterprise solutions worldwide.