Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Has Average Price Target of $28.75 According to Analysts

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.75.

Several equities research analysts recently commented on XNDU shares. Canadian Imperial Bank of Commerce began 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 on the stock. Wall Street Zen raised shares of 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. Royal Bank Of Canada initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, September 28th. They issued an “outperform” rating and a $16.00 price objective for the company. Weiss Ratings lowered shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 26th. Finally, Morgan Stanley set a $3.75 price objective on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares and gave the company an “equal weight” rating in a research note on Thursday.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock. TD Waterhouse Canada Inc. increased its position in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) by 1,113.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,810 shares of the quantum computing company’s stock after buying an additional 17,260 shares during the period. TD Waterhouse Canada Inc.’s holdings in Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares were worth $84,000 at the end of the most recent reporting period.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

NASDAQ:XNDU opened at $3.04 on Friday. The firm has a 50-day moving average of $7.68. The stock has a market capitalization of $924.83 million, a price-to-earnings ratio of -7.24 and a beta of 15.25. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 12 month low of $3.00 and a 12 month high of $42.44. The company has a quick ratio of 25.09, a current ratio of 25.53 and a debt-to-equity ratio of 0.10.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its earnings results on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share for the quarter. The firm had revenue of $1.51 million during the quarter. Equities analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 EPS for the current year.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

Xanadu Quantum Technologies Limited is a Canadian quantum computing company that develops photonic quantum computers and the software tools used to program them. Its technology is designed to use light particles, or photons, to perform quantum computations and support applications across areas such as materials science, drug discovery, finance and artificial intelligence.

The company provides access to its quantum hardware through cloud-based services and develops PennyLane, an open-source software framework for quantum machine learning, quantum chemistry and quantum computing.