Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Now Covered by Analysts at Canaccord Genuity Group

Analysts at Canaccord Genuity Group initiated coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) in a note issued to investors on Thursday. 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 points to a potential upside of 29.50% from the company’s current price.

Several other research firms have also issued reports on XNDU. Weiss Ratings started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 16th. They set a “sell (d-)” rating on the stock. Northland Securities started coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday. They set an “outperform” rating and a $43.00 target price on the stock. Finally, Zacks Research raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Stock Performance

XNDU stock opened at $34.75 on Thursday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a fifty-two week low of $6.97 and a fifty-two week high of $42.44.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last released its earnings results 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.