Quantum Corporation (NASDAQ:QMCO) Stock Has Average Target Price of $26.50

Quantum Corporation (NASDAQ:QMCO) has earned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $26.50.

A number of brokerages recently commented on QMCO. 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 initiated coverage on Quantum in a research report on Monday, August 10th. They set a “buy” rating on the stock. Lake Street Capital set a $29.00 target price on Quantum and gave the stock a “buy” rating in a research note on Monday, September 14th. Northland Securities raised Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price target for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum in a research report on Monday, September 21st.

Hedge Funds Weigh In On Quantum

Large investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. acquired a new stake in shares of Quantum in the second quarter valued at about $29,193,000. Two Seas Capital LP acquired a new position in Quantum during the second quarter worth about $27,374,000. Manatuck Hill Partners LLC purchased a new position in Quantum in the second quarter valued at about $3,850,000. BlackRock Inc. purchased a new position in Quantum in the second quarter valued at about $3,003,000. Finally, Bank of America Corp DE lifted 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 valued at $1,871,000 after acquiring an additional 149,645 shares during the period. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Quantum Trading Up 8.2%

Shares of QMCO stock opened at $34.50 on Tuesday. The company has a market capitalization of $1.36 billion, a P/E ratio of -2.61 and a beta of 3.08. The business’s 50 day moving average is $22.07 and its two-hundred day moving average is $13.74. Quantum has a twelve month low of $4.19 and a twelve month high of $35.17.

Quantum (NASDAQ:QMCO) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.35. The firm had revenue of $80.80 million for the quarter, compared to analysts’ expectations of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. As a group, equities analysts predict 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 customers include businesses, media and entertainment companies, government agencies, research institutions and other organizations that require long-term data preservation, rapid access and secure information management.

The company’s portfolio includes tape libraries and drives based on Linear Tape-Open (LTO) technology, disk-based backup and deduplication systems, and software for managing files, objects and data workflows.