Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Issues Earnings Results, Misses Estimates By $0.02 EPS

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) issued its earnings results on Wednesday. The quantum computing company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02), Zacks reports.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock traded up $0.01 during trading on Wednesday, hitting $2.79. 5,547,751 shares of the company’s stock were exchanged, compared to its average volume of 4,410,726. The stock has a market capitalization of $848.77 million, a price-to-earnings ratio of -6.64 and a beta of 15.30. The business has a 50-day simple moving average of $5.03 and a 200-day simple moving average of $11.16. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 52-week low of $2.34 and a 52-week high of $42.44. The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53.

Analyst Upgrades and Downgrades

Several analysts have weighed in on XNDU shares. Morgan Stanley began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, October 15th. They set an “equal weight” rating and a $3.75 price target on the stock. Canadian Imperial Bank of Commerce initiated coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Tuesday, July 28th. They set a “sector outperform” rating and a $22.00 target price for the company. Weiss Ratings raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 21st. Canaccord Genuity Group dropped their target price on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from $45.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, September 28th. They issued an “outperform” rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.75.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Xanadu Quantum Technologies Limited is a Canadian quantum computing company that develops quantum computers based on photonics, using particles of light to process information. Its work includes building quantum hardware and developing software intended to help researchers and businesses create and run quantum applications. The company also develops PennyLane, an open-source software library for quantum computing and quantum machine learning. Xanadu has made quantum computing tools and hardware available through cloud-based services, supporting users beyond its home base in Toronto, Canada.