Quantum (NASDAQ:QMCO) Stock Rating Upgraded by Wall Street Zen

Quantum (NASDAQ:QMCO) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

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

Quantum Stock Performance

NASDAQ QMCO opened at $26.11 on Friday. The firm’s fifty day moving average price is $12.68 and its two-hundred day moving average price is $8.95. The stock has a market cap of $1.03 billion, a PE ratio of -1.97 and a beta of 2.97. Quantum has a fifty-two week low of $4.19 and a fifty-two week high of $27.80.

Quantum (NASDAQ:QMCO) last released its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.35. The business had revenue of $80.80 million for the quarter, compared to the consensus estimate of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, sell-side analysts predict that Quantum will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quantum

A number of large investors have recently made changes to their positions in QMCO. NBC Securities Inc. purchased a new position in shares of Quantum during the 4th quarter valued at about $26,000. Bank of America Corp DE boosted its stake in shares of Quantum by 337.5% during the third quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock valued at $29,000 after purchasing an additional 2,234 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Quantum by 322.1% during the third quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company’s stock valued at $34,000 after purchasing an additional 2,641 shares during the period. Raymond James Financial Inc. bought a new position in shares of Quantum in the second quarter worth approximately $46,000. Finally, R Squared Ltd bought a new position in shares of Quantum in the first quarter worth approximately $58,000. 63.66% of the stock is owned by institutional investors.

About Quantum

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.