Quantum (NASDAQ:QMCO) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Quantum to “Strong Buy” from “Buy.” Analyst views remain mixed, with five Buy ratings and one Sell; the consensus rating is “Moderate Buy” and the average price target is $28.33.
• Quantum reported quarterly earnings of $0.25 per share, beating the $0.12 estimate, and revenue of $89.63 million, above the $82.30 million forecast.
• The stock was reported down 7.8%, and opened Friday at $15.34. Its 12-month trading range is $4.19 to $35.65.

Quantum (NASDAQ:QMCO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on 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 note on Tuesday, August 11th. Lake Street Capital set a $29.00 price target on shares of Quantum and gave the stock a "buy" rating in a research report on Monday, September 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Quantum in a research report on Monday, September 21st. Litchfield Hills Research initiated coverage on shares of Quantum in a report on Monday, August 10th. They set a "buy" rating for the company. Finally, Cantor Fitzgerald boosted their price objective on shares of Quantum from $29.00 to $32.00 and gave the company an "overweight" rating in a research report on Tuesday. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.33.

Quantum Stock Down 7.8%

Shares of NASDAQ:QMCO opened at $15.34 on Friday. The company's fifty day moving average is $23.34 and its two-hundred day moving average is $13.53. Quantum has a 12-month low of $4.19 and a 12-month high of $35.65. The company has a market cap of $606.85 million, a P/E ratio of -1.41 and a beta of 3.23.

Quantum (NASDAQ:QMCO - Get Free Report) last issued its earnings results on Monday, November 9th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.12 by $0.13. Quantum had a negative return on equity of 3.99% and a negative net margin of 73.54%. The business had revenue of $89.63 million during the quarter, compared to analysts' expectations of $82.30 million. Quantum has set its Q3 2027 guidance at 0.100-0.300 EPS. Equities research analysts anticipate that Quantum will post 0.31 earnings per share for the current year.

Institutional Trading of Quantum

A number of institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new position in Quantum in the second quarter valued at about $372,000. Susquehanna Fundamental Investments LLC acquired a new position in Quantum in the 2nd quarter worth about $381,000. Man Group plc purchased a new stake in shares of Quantum during the 2nd quarter worth about $755,000. Sona Asset Management US LLC purchased a new stake in shares of Quantum during the 1st quarter worth about $333,000. Finally, State Street Corp lifted its holdings in shares of Quantum by 4.3% during the 2nd quarter. State Street Corp now owns 75,914 shares of the company's stock valued at $835,000 after buying an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company's stock.

Quantum Company Profile

Quantum Corporation provides data storage and management solutions for organizations that create and retain large volumes of unstructured data, including video, images and other digital content. Its customers include businesses and institutions in areas such as media and entertainment, government, life sciences and industrial markets. The company's offerings include StorNext shared-storage and data-management software, Scalar tape libraries for backup and archiving, and ActiveScale object storage.

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