Quantum Corporation (NASDAQ:QMCO) Stock Has Average Price Target of $27.33 According to Analysts

Key Points

• Analysts rate Quantum “Moderate Buy.” Five of six firms recommend buying the stock, one recommends selling, and the average 12-month price target is $27.33.
• Institutional interest remains significant. Hedge funds and institutions own 63.66% of Quantum, with Bank of America increasing its stake by 730.5% and Alyeska Investment Group establishing a position worth about $29.2 million.
• Quantum recently exceeded quarterly expectations, reporting $0.18 in EPS versus a projected loss of $0.17 and revenue of $80.8 million versus estimates of $75.05 million. The stock opened at $17.62, compared with a 52-week range of $4.19 to $35.65.

Shares of Quantum Corporation (NASDAQ:QMCO - Get Free Report) have received a consensus rating of "Moderate Buy" from the six ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $27.33.

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Quantum in a research note on Monday, September 21st. Lake Street Capital set a $29.00 target price on shares of Quantum and gave the company a "buy" rating in a report on Monday, September 14th. Northland Securities raised Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 target price for the company in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Quantum from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Cantor Fitzgerald started coverage on Quantum in a research note on Friday. They issued an "overweight" rating and a $29.00 target price for the company.

Hedge Funds Weigh In On Quantum

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

Quantum Price Performance

NASDAQ:QMCO opened at $17.62 on Friday. The business has a 50 day simple moving average of $25.06 and a 200-day simple moving average of $15.75. Quantum has a 1 year low of $4.19 and a 1 year high of $35.65. The firm has a market capitalization of $694.40 million, a price-to-earnings ratio of -1.33 and a beta of 3.08.

Quantum (NASDAQ:QMCO - Get Free Report) last announced its 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 analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, analysts expect that Quantum will post 0.31 earnings per share for the current fiscal year.

Quantum Company Profile

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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