Quantum (NASDAQ:QMCO) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Quantum (NASDAQ:QMCO) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Wednesday, June 24th. Litchfield Hills Research started coverage on Quantum in a report on Monday, August 10th. They set a “buy” rating for the company. Lake Street Capital restated a “buy” rating and issued a $24.00 target price (up from $20.00) on shares of Quantum in a research note on Tuesday. Needham & Company LLC initiated coverage on shares of Quantum in a report on Wednesday, June 3rd. They issued a “buy” rating on the stock. Finally, Northland Securities upgraded shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Quantum Stock Up 5.8%

NASDAQ QMCO opened at $26.11 on Friday. Quantum has a twelve month low of $4.19 and a twelve month high of $27.80. The stock has a market cap of $1.03 billion, a P/E ratio of -1.97 and a beta of 2.97. The company’s 50-day simple moving average is $12.68 and its 200 day simple moving average is $8.93.

Quantum (NASDAQ:QMCO) last released its quarterly earnings data on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.35. The company had revenue of $80.80 million for the quarter, compared to analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. Research analysts anticipate that Quantum will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Quantum

A number of institutional investors have recently modified their holdings of the stock. Two Seas Capital LP acquired a new position in shares of Quantum during the second quarter worth approximately $27,374,000. Manatuck Hill Partners LLC acquired a new position in Quantum during the 2nd quarter worth $3,850,000. Vanguard Group Inc. boosted its position in Quantum by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 303,597 shares of the company’s stock valued at $3,012,000 after buying an additional 46,919 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Quantum in the 2nd quarter valued at $3,003,000. Finally, Marshall Wace LLP bought a new stake in shares of Quantum during the second quarter worth $1,775,000. 63.66% of the stock is owned by institutional investors.

Quantum Company Profile

Quantum Corporation (NASDAQ: QMCO) is a technology company that develops and delivers data management and storage solutions for businesses and organizations worldwide. The company’s product portfolio includes hardware, software and cloud-based offerings designed to address backup, archive, primary storage and long-term retention needs. Quantum’s solutions are geared toward data-intensive environments such as media and entertainment, surveillance, government, education and healthcare, where large volumes of digital content must be reliably stored, managed and accessed.

Quantum’s flagship products include the StorNext® data management platform, which provides high-performance shared file storage and workflow acceleration, and the DXi® series of deduplication appliances, which optimize backup and recovery by reducing storage footprints and data transfer times.