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

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

A number of other research firms have also recently weighed in on XNDU. Wall Street Zen upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. 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 started 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 price objective for the company. Canaccord Genuity Group assumed coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Thursday, April 23rd. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Zacks Research raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Up 13.0%

XNDU stock opened at $11.02 on Tuesday. The stock has a market capitalization of $3.29 billion, a P/E ratio of -39.36 and a beta of 15.00. 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’s 50-day moving average price is $12.50. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 12-month low of $6.97 and a 12-month high of $42.44.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its earnings results 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 during the quarter, compared to analyst estimates of $0.70 million. Equities analysts forecast 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.