Quantum (NASDAQ:QMCO) Now Covered by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of Quantum with an “overweight” rating and a $29 price target, implying approximately 70.8% upside from the reported $16.98 share price.
• Analyst sentiment is generally positive: five analysts rate Quantum a Buy, one rates it Sell, and the stock has a consensus rating of “Moderate Buy” with a $27.33 average price target.
• Quantum recently exceeded quarterly expectations, reporting $0.18 earnings per share versus a projected $0.17 loss and revenue of $80.8 million versus the $75.05 million consensus estimate; institutional investors own 63.66% of its shares.

Investment analysts at Cantor Fitzgerald began coverage on shares of Quantum (NASDAQ:QMCO - Get Free Report) in a research report issued on Friday, MarketBeat.com reports. The brokerage set an "overweight" rating and a $29.00 price target on the stock. Cantor Fitzgerald's price target suggests a potential upside of 70.79% from the stock's current price.

A number of other research analysts have also weighed in on the company. Northland Securities upgraded Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 price objective for the company in a research report on Tuesday, August 11th. Lake Street Capital set a $29.00 price objective on Quantum and gave the stock a "buy" rating in a research note on Monday, September 14th. Wall Street Zen upgraded shares of Quantum from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Litchfield Hills Research assumed coverage on shares of Quantum in a research report on Monday, August 10th. They issued a "buy" rating on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Quantum in a research report on Monday, September 21st. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Quantum currently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Quantum Stock Performance

NASDAQ:QMCO opened at $16.98 on Friday. Quantum has a fifty-two week low of $4.19 and a fifty-two week high of $35.65. The business has a 50 day moving average price of $25.23 and a 200-day moving average price of $15.74. The firm has a market cap of $669.18 million, a PE ratio of -1.28 and a beta of 3.08.

Quantum (NASDAQ:QMCO - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.35. The business had revenue of $80.80 million during the quarter, compared to analysts' expectations of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. Research analysts predict that Quantum will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Quantum

A number of institutional investors have recently modified their holdings of QMCO. State Street Corp grew its stake in Quantum by 4.3% in the second quarter. State Street Corp now owns 75,914 shares of the company's stock worth $835,000 after purchasing an additional 3,100 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Quantum during the 2nd quarter valued at $372,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Quantum in the 2nd quarter worth $381,000. Alyeska Investment Group L.P. purchased a new stake in shares of Quantum in the 2nd quarter worth $29,193,000. Finally, Bank of America Corp DE grew its position in shares of Quantum by 730.5% during the 2nd quarter. Bank of America Corp DE now owns 170,130 shares of the company's stock worth $1,871,000 after buying an additional 149,645 shares in the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Quantum

Quantum Corporation NASDAQ: QMCO provides data storage, management and protection solutions for organizations that generate and retain large volumes of unstructured data. Its offerings are designed to help customers store, protect, archive and access information across on-premises, cloud and hybrid environments.

The company's product portfolio has included Scalar tape libraries and LTO tape storage products, DXi deduplication and backup appliances, and software-defined storage solutions such as ActiveScale object storage.

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