Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the stock. Zacks Research upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, May 26th. Northland Securities assumed coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, April 20th. They issued an “outperform” rating and a $43.00 target price on the stock. Canaccord Genuity Group assumed coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 23rd. They set a “buy” rating and a $45.00 price target for the company. Finally, Wall Street Zen upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

Shares of XNDU stock opened at $11.02 on Tuesday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a fifty-two week low of $6.97 and a fifty-two week high of $42.44. The firm has a fifty day simple moving average of $12.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.05 and a current ratio of 14.35. The firm has a market cap of $3.29 billion, a P/E ratio of -39.36 and a beta of 15.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its quarterly earnings data on Thursday, May 14th. The quantum computing company reported ($0.28) earnings per share for the quarter. The company had revenue of $2.83 million during the quarter, compared to analyst estimates of $0.70 million. On average, equities analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 EPS for the current fiscal year.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Xanadu Quantum Technologies Limited is a quantum computing company headquartered in Toronto, Canada, that develops photonics-based quantum hardware and software. The company focuses on building programmable photonic quantum processors that use light rather than superconducting qubits, and it provides cloud-based access to its systems for researchers and commercial users. Xanadu is publicly listed under the ticker XNDU on both Nasdaq and the Toronto Stock Exchange.

Its technology stack combines integrated photonic hardware, control systems, and software designed to support quantum algorithms and applications in areas such as optimization, simulation, and quantum machine learning.