Quantum (NASDAQ:QMCO) Price Target Raised to $32.00

Quantum (NASDAQ:QMCO) had its price target raised by Cantor Fitzgerald from $29.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

QMCO has been the topic of a number of other reports. Wall Street Zen upgraded shares of Quantum from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Northland Securities upgraded Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target on the stock in a report on Tuesday, August 11th. Lake Street Capital set a $29.00 price target on Quantum and gave the stock a “buy” rating in a research report on Monday, September 14th. Litchfield Hills Research started coverage on Quantum in a research note on Monday, August 10th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Quantum in a report on Monday, September 21st. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.33.

Quantum Stock Performance

Shares of QMCO stock opened at $16.63 on Tuesday. The stock has a fifty day simple moving average of $23.52 and a two-hundred day simple moving average of $13.49. The firm has a market capitalization of $657.88 million, a PE ratio of -1.53 and a beta of 3.23. Quantum has a 52-week low of $4.19 and a 52-week high of $35.65.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.12 by $0.13. The business had revenue of $89.63 million for the quarter, compared to the consensus estimate of $82.30 million. Quantum had a negative return on equity of 3.99% and a negative net margin of 73.54%. Quantum has set its Q3 2027 guidance at 0.100-0.300 EPS. On average, sell-side analysts forecast that Quantum will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Quantum

A number of large investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new stake in Quantum during the second quarter worth $372,000. Man Group plc bought a new stake in Quantum during the 2nd quarter valued at $755,000. Bank of America Corp DE boosted its position in Quantum by 730.5% during the 2nd quarter. Bank of America Corp DE now owns 170,130 shares of the company’s stock valued at $1,871,000 after acquiring an additional 149,645 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Quantum in the 2nd quarter valued at $3,003,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Quantum in the 2nd quarter valued at $381,000. Institutional investors own 63.66% of the company’s stock.

About Quantum

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.