Lake Street Reiterates Buy Rating for Quantum Corp. (NASDAQ: QMCO) and Raises Price Target

• Analyst firm Lake Street reiterated its Buy rating for Quantum Corp. and significantly raised its price target from $20.00 to $24.00.
• Quantum Corp. reported strong financial results for Q1 2026, with revenue increasing 25.7% to $80.80 million and an earnings per share of $0.18, greatly surpassing estimates.
• Despite supply constraints, demand for Quantum Corp.'s ActiveScale and tape storage products remains robust, highlighting strong market interest and operational efficiency improvements.

On August 11, 2026, analyst firm Lake Street reiterated its Buy rating for Quantum Corp. (NASDAQ: QMCO). Quantum Corp. is a company that provides data storage and management solutions. Lake Street also raised its price target for Quantum Corp. to $24.00 from $20.00, while the stock was trading at $11.78.

The analyst firm's positive outlook is supported by Quantum Corp.'s strong financial performance. For its first quarter ending in June 2026, Quantum Corp. reported revenue of $80.80 million. This represents a significant 25.7% increase from the $64.30 million reported in the same quarter a year earlier.

The company also demonstrated impressive profitability. It posted earnings of $0.18 per share, which is a key measure of a company's profit divided by its number of outstanding shares. This result greatly surpassed the Zacks Consensus Estimate of a loss of $0.17 per share, marking an earnings surprise of over 205%.

This performance is driven by strong demand for its ActiveScale and tape storage products. Operationally, the company also improved its efficiency. It reduced its non-GAAP adjusted operating expenses by approximately $4.90 million compared to the previous year, as reported in its fiscal first quarter 2027 financial results.

Despite the strong results, Quantum Corp. faces challenges with supply constraints that limit its ability to fulfill all orders. CEO Hugues Meyrath notes that "Customers’ demand remains stronger than our ability to fulfill it." This highlights ongoing limitations in tape-drive availability, though it also signals very high demand for the company's products.