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

Canadian Imperial Bank of Commerce upgraded shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other research analysts have also recently weighed in on XNDU. Northland Securities assumed 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. Canaccord Genuity Group began 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 objective for the company. Zacks Research upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded 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. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.67.

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

Shares of XNDU opened at $11.02 on Tuesday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a twelve month low of $6.97 and a twelve month high of $42.44. The company has a market capitalization of $3.29 billion, a PE 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 is $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) EPS for the quarter. The firm had revenue of $2.83 million for the quarter, compared to the consensus estimate of $0.70 million. Analysts expect 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.