B. Riley Securities has decided to maintain its Neutral rating of Quantum (NASDAQ:QMCO) and lower its price target from $4.00 to $2.75.
Shares of Quantum are trading down 1.84% over the last 24 hours, at $2.13 per share.
A move to $2.75 would account for a 29.11% increase from the current share price.
Quantum Corp is a United States-based company engaged in providing scale-out storage, archive, and data protection for small businesses and large multinational enterprises. Its solutions capture, share, manage and preserve digital assets throughout the data lifecycle. The scale-out portfolio offerings enable customers to manage large unstructured data sets, provide ingest capabilities, real-time collaboration, scalability, and protection. It derives primary revenues from the products based on tape technology. A majority of the firm's revenue is generated in the Americas, with the rest coming from Europe and Asia-Pacific.
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