Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Issues Quarterly Earnings Results

Key Points

• Xanadu reported a quarterly loss of $0.11 per share, missing analyst expectations of a $0.09 loss by $0.02.
• Shares traded at $2.79 on Wednesday, near their 12-month low of $2.34 and well below the 12-month high of $42.44.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $23.75; Canaccord Genuity cut its target from $45 to $34 while maintaining a Buy rating.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU - Get Free Report) announced its quarterly earnings data on Wednesday. The quantum computing company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02), Zacks reports.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

XNDU stock traded up $0.01 during trading on Wednesday, reaching $2.79. The company had a trading volume of 5,547,751 shares, compared to its average volume of 4,410,726. The firm has a 50-day simple moving average of $5.03 and a 200-day simple moving average of $11.16. The company has a market cap of $848.77 million, a price-to-earnings ratio of -6.64 and a beta of 15.30. 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 has a twelve month low of $2.34 and a twelve month high of $42.44.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group decreased their target price 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 research report on Thursday, August 6th. Canadian Imperial Bank of Commerce initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Tuesday, July 28th. They issued a "sector outperform" rating and a $22.00 price target on the stock. Royal Bank Of Canada began coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, September 28th. They set an "outperform" rating and a $16.00 price target on the stock. Morgan Stanley assumed coverage on 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 objective for the company. Finally, Weiss Ratings upgraded Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.75.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Company Profile

Xanadu Quantum Technologies Limited is a Canadian quantum computing company that develops quantum computers based on photonics, using particles of light to process information. Its work includes building quantum hardware and developing software intended to help researchers and businesses create and run quantum applications. The company also develops PennyLane, an open-source software library for quantum computing and quantum machine learning. Xanadu has made quantum computing tools and hardware available through cloud-based services, supporting users beyond its home base in Toronto, Canada.

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