Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Rating Increased to Strong-Buy at Canadian Imperial Bank of Commerce

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) was upgraded by Canadian Imperial Bank of Commerce to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

XNDU has been the subject of a number of other research reports. 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 report on Saturday, June 20th. Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Canaccord Genuity Group started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, April 23rd. They set a “buy” rating and a $45.00 price target for the company. Northland Securities began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, April 20th. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, Weiss Ratings raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares presently has a consensus rating of “Moderate Buy” and an average price target of $36.67.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

XNDU stock opened at $11.02 on Tuesday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 1-year low of $6.97 and a 1-year high of $42.44. The company has a quick ratio of 14.05, a current ratio of 14.35 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.29 billion, a P/E ratio of -39.36 and a beta of 15.00. The business has a 50 day simple moving average of $12.50.

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 (EPS) for the quarter. The firm had revenue of $2.83 million for the quarter, compared to analysts’ expectations of $0.70 million. Sell-side analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 EPS for the current fiscal year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

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.