Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Shares Gap Up – Time to Buy?

Shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) gapped up before the market opened on Wednesday . The stock had previously closed at $17.84, but opened at $19.20. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares shares last traded at $17.63, with a volume of 2,472,662 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on XNDU. Zacks Research raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a report on Tuesday, April 21st. Canaccord Genuity Group started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 23rd. They issued a “buy” rating and a $45.00 price target on the stock. Weiss Ratings started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 16th. They issued a “sell (d-)” rating on the stock. Finally, Northland Securities started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, April 20th. They issued an “outperform” rating and a $43.00 price target on the stock. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Price Performance

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