Zacks Upgrades Quantum Corp. to Outperform (QTM)

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Quantum Corp. (NYSE:QTM) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Tuesday, American Banking & Market News reports. The firm currently has a $1.40 target price on the stock. Zacks‘ price target would suggest a potential upside of 17.65% from the stock’s previous close.

Quantum Corp. (NYSE:QTM) traded up 1.68% on Tuesday, hitting $1.21. 551,782 shares of the company’s stock traded hands. Quantum Corp. has a 52 week low of $1.10 and a 52 week high of $1.75. The stock’s 50-day moving average is $1.25 and its 200-day moving average is $1.37. The company’s market cap is $300.2 million.

Quantum Corp. (NYSE:QTM) last announced its earnings results on Wednesday, January 29th. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.02. The company had revenue of $145.90 million for the quarter, compared to the consensus estimate of $143.30 million. During the same quarter last year, the company posted $0.02 earnings per share. Quantum Corp.’s revenue was down 8.4% compared to the same quarter last year. On average, analysts predict that Quantum Corp. will post $0.06 earnings per share for the current fiscal year.

Separately, analysts at Craig Hallum upgraded shares of Quantum Corp. from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, January 14th.

Quantum Corporation (NYSE:QTM) provides data protection and big data management.

To view Zacks’ full report, visit www.zacks.com

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