Quantum Corporation Shares Dropped 39% on Disappointing Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/QMCO'>Quantum Corporation (Nasdaq:QMCO) </a>shares closed 39% lower on Thursday following the company’s reported disappointing Q3 results, with earnings missing the Street estimates due to worsening supply chain challenges, which are also weighing on margins.</p>
<p>Analysts at Oppenheimer downgraded the company to perform from outperform following the results. While the analysts remain positive on the company's strategic direction and product evolution/execution, but believe that the current supply chain challenges could take multiple quarters to resolve. Long term the analysts remain comfortable with the company's direction and execution, seeing encouraging signs of use case expansion/vertical diversification, multiple growth levers, and signs customers remain engaged ($62 million backlog, up $12 million quarter-over-quarter). </p>

Nasdaq:QMCO