Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Coverage Initiated at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $45.00 price target on the quantum computing company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 45.40% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Zacks Research raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a report on Tuesday. Weiss Ratings began 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 for the company. Finally, Northland Securities began 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 target price for the company. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares presently has an average rating of “Hold” and an average price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

Shares of XNDU stock opened at $30.95 on Thursday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 1 year low of $6.97 and a 1 year high of $42.44.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last issued its quarterly earnings data on Thursday, April 9th. The quantum computing company reported ($14.29) earnings per share (EPS) for the quarter.

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.