Quantum Corporation (NASDAQ:QMCO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Quantum Corporation (NASDAQ:QMCO) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.00.

Several analysts have issued reports on the stock. Northland Securities raised shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a research report on Tuesday, August 11th. Litchfield Hills Research assumed coverage on shares of Quantum in a research report on Monday, August 10th. They issued a “buy” rating for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $24.00 target price (up from $20.00) on shares of Quantum in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research note on Wednesday, June 24th. Finally, Needham & Company LLC started coverage on Quantum in a report on Wednesday, June 3rd. They set a “buy” rating for the company.

Quantum Stock Performance

Shares of NASDAQ QMCO opened at $23.03 on Friday. The stock has a 50 day moving average price of $16.55 and a 200 day moving average price of $11.27. The stock has a market capitalization of $907.61 million, a PE ratio of -1.74 and a beta of 3.14. Quantum has a 52 week low of $4.19 and a 52 week high of $27.80.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.35. The company 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, research analysts forecast that Quantum will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QMCO. Bank of America Corp DE increased its holdings in shares of Quantum by 337.5% during the 3rd quarter. Bank of America Corp DE now owns 2,896 shares of the company’s stock worth $29,000 after acquiring an additional 2,234 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Quantum by 322.1% during the 3rd 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 last quarter. Raymond James Financial Inc. bought a new position in Quantum during the second quarter worth $46,000. R Squared Ltd acquired a new position in shares of Quantum in the first quarter valued at $58,000. Finally, Millennium Management LLC bought a new position in shares of Quantum in the fourth quarter valued at about $73,000. 63.66% of the stock is currently 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.