Needham & Company Maintains a 'Buy' on Quantum Corp. (QTM); Update From Investor Meeting

Needham & Company maintains a 'Buy' on Quantum Corp. (NYSE: QTM) price target of $2.75.

Analyst, Glenn Hanus, said, "Given QTM’s disappointing recent results, sales/marketing/distribution execution has lagged and QTM has shifted focus and resources to address. Specifically, QTM has launched branding and awareness campaigns (more related to disk/StorNext), focused executive resources on meeting with C-level execs. at key customers/prospects, doubled its Big data overlay salesforce, established a VP of EMEA sales position and hired (started 5/9/12) from EMC/Isilon (NYSE: EMC), hired VP channels among other recent sales changes, recruited new resellers and invested in partner training, broadened distribution evidenced by recent disd. agreements with Teradata (NYSE: TDC), Xerox (NYSE: XRX), Quest (Nasdaq: QSFT), and is expanding reach (i.e., SMB, domestic verticals, emerging mkts, BigData, cloud)."

For an analyst ratings summary and ratings history on Quantum Corp. click here. For more ratings news on Quantum Corp. click here.

Shares of Quantum Corp. closed at $1.63 yesterday.

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