Quantum (NASDAQ:QMCO) Coverage Initiated by Analysts at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald assumed coverage on shares of Quantum (NASDAQ:QMCO) in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $29.00 price target on the stock. Cantor Fitzgerald‘s target price would suggest a potential upside of 70.79% from the company’s previous close.

A number of other research analysts also recently issued reports 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 started coverage on Quantum in a research report on Monday, August 10th. They issued a “buy” rating for the company. Northland Securities upgraded shares of Quantum from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research 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. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.33.

Quantum Trading Down 3.6%

QMCO opened at $16.98 on Friday. The firm has a market cap of $669.18 million, a price-to-earnings ratio of -1.28 and a beta of 3.08. Quantum has a 12 month low of $4.19 and a 12 month high of $35.65. The stock has a fifty day moving average price of $25.23 and a 200-day moving average price of $15.74.

Quantum (NASDAQ:QMCO) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.18 earnings per share (EPS) 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 analyst estimates of $75.05 million. Quantum has set its Q2 2027 guidance at 0.020-0.220 EPS. On average, equities research analysts forecast that Quantum will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Quantum

Several institutional investors and hedge funds have recently bought and sold shares of QMCO. R Squared Ltd acquired a new stake in shares of Quantum during the 1st quarter worth approximately $58,000. Squarepoint Ops LLC purchased a new stake in Quantum in the 2nd quarter valued at about $372,000. Susquehanna Fundamental Investments LLC acquired a new position in Quantum in the second quarter valued at about $381,000. Man Group plc acquired a new stake in shares of Quantum during the second quarter valued at about $755,000. Finally, Sona Asset Management US LLC purchased a new position in shares of Quantum during the 1st quarter worth approximately $333,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.