Quantum (NASDAQ:QMCO) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Quantum from “hold” to “buy,” while broader analyst coverage remains mostly positive: four analysts rate it a Buy and one rates it a Sell. MarketBeat lists a “Moderate Buy” consensus and a $24 price target.
• Quantum reported quarterly earnings of $0.18 per share, beating estimates of a $0.17 loss, while revenue of $80.8 million exceeded the $75.05 million consensus forecast.
• Quantum shares opened at $26.11, near their 52-week high of $27.80, and the company has a market capitalization of roughly $1.03 billion. Institutional investors own approximately 63.66% of the stock.

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

A number of other equities analysts also recently weighed in on QMCO. Weiss Ratings reiterated a "sell (d-)" rating on shares of Quantum in a report on Wednesday, June 24th. Litchfield Hills Research started coverage on shares of Quantum in a report on Monday. They set a "buy" rating for the company. Northland Securities raised shares of Quantum from a "market perform" rating to an "outperform" rating and set a $24.00 price objective on the stock in a research report on Tuesday. Needham & Company LLC started coverage on shares of Quantum in a research note on Wednesday, June 3rd. They issued a "buy" rating on the stock. Finally, Lake Street Capital reiterated a "buy" rating and issued a $24.00 price objective (up from $20.00) on shares of Quantum in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Quantum Stock Up 5.8%

Shares of Quantum stock opened at $26.11 on Friday. Quantum has a fifty-two week low of $4.19 and a fifty-two week high of $27.80. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -1.97 and a beta of 2.97. The business has a fifty day simple moving average of $12.68 and a 200-day simple moving average of $8.93.

Quantum (NASDAQ:QMCO - Get Free Report) last issued 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 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. Analysts anticipate that Quantum will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quantum

A number of large investors have recently bought and sold shares of QMCO. NBC Securities Inc. bought a new position in Quantum during the fourth quarter valued at about $26,000. Bank of America Corp DE lifted its position in shares of Quantum by 337.5% in the third quarter. Bank of America Corp DE now owns 2,896 shares of the company's stock worth $29,000 after buying an additional 2,234 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Quantum by 322.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,461 shares of the company's stock worth $34,000 after acquiring an additional 2,641 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Quantum during the 2nd quarter worth about $46,000. Finally, R Squared Ltd acquired a new position in shares of Quantum during the 1st quarter valued at about $58,000. 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.

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