Quasielastic K^+ - nucleus scattering data at q=290, 390 and 480 MeV/c are analyzed in a finite nucleus continuum random phase approximation framework, using a density-dependent particle-hole interaction. The reaction mechanism is consistently treated according to Glauber theory, keeping up to two-step inelastic processes. A good description of the data is achieved, also providing a useful constraint on the strength of the effective particle-hole interaction in the scalar-isoscalar channel at intermediate momentum transfers. We find no evidence for the increase in the effective number of nucleons participating in the reaction which has been reported in the literature.