Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Has Average Target Price of $23.75 According to Analysts

Key Points

• Analyst consensus is “Moderate Buy” among seven analysts, with an average 12-month price target of $23.75. Ratings include three buys, one strong buy, two holds and one sell.
• XNDU opened at $2.62, near its 52-week low of $2.50 and well below its $42.44 high; its 50-day and 200-day moving averages were $5.65 and $11.40, respectively.
• Xanadu reported a quarterly loss of $0.14 per share on $1.51 million in revenue. Analysts expect a full-year loss of $0.47 per share.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.75.

XNDU has been the subject of a number of recent research reports. Canaccord Genuity Group cut their price objective on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from $45.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Weiss Ratings raised shares of 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. Morgan Stanley started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, October 15th. They issued an "equal weight" rating and a $3.75 price target for the company. Canadian Imperial Bank of Commerce started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Tuesday, July 28th. They issued a "sector outperform" rating and a $22.00 price target for the company. Finally, Royal Bank Of Canada began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research note on Monday, September 28th. They issued an "outperform" rating and a $16.00 price target for the company.

Hedge Funds Weigh In On Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lockheed Martin Investment Management Co. bought a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter valued at $10,575,000. Apollon Wealth Management LLC acquired a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 3rd quarter worth $57,000. TD Waterhouse Canada Inc. grew its holdings in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares by 1,113.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 18,810 shares of the quantum computing company's stock worth $84,000 after purchasing an additional 17,260 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares during the 2nd quarter worth $324,000.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Down 2.6%

XNDU stock opened at $2.62 on Thursday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 52 week low of $2.50 and a 52 week high of $42.44. The company has a market capitalization of $797.06 million, a PE ratio of -6.24 and a beta of 15.30. The company's 50-day simple moving average is $5.65 and its 200 day simple moving average is $11.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 25.09 and a current ratio of 25.53.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The quantum computing company reported ($0.14) earnings per share for the quarter. The business had revenue of $1.51 million for the quarter. As a group, sell-side analysts anticipate that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.47 earnings per share 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 focused on developing photonic quantum computers and the software needed to program and operate them. Its approach uses light-based quantum systems, which are designed to support scalable, networked quantum computing applications.

The company develops quantum hardware, cloud-accessible computing services and software tools for researchers, developers and businesses. Its technology portfolio includes photonic quantum processors and PennyLane, an open-source software library that enables users to build and run quantum machine-learning and quantum-computing applications across different hardware platforms.

Founded in 2016, Xanadu serves a global community of users through its software and cloud offerings, with applications spanning quantum research, machine learning, optimization and scientific computing.

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