Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Stock Price Up 14.4% – Still a Buy?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) rose 14.4% on Thursday . The company traded as high as $17.00 and last traded at $16.89. Approximately 4,933,486 shares traded hands during trading, a decline of 7% from the average daily volume of 5,329,931 shares. The stock had previously closed at $14.76.

Analyst Upgrades and Downgrades

XNDU has been the topic of a number of research reports. Weiss Ratings initiated 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. Zacks Research raised Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a report on Tuesday, April 21st. Canaccord Genuity Group initiated coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Thursday, April 23rd. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Northland Securities initiated coverage on Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a report on Monday, April 20th. They set an “outperform” rating and a $43.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.00.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares Trading Down 9.6%

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last announced its quarterly earnings results on Thursday, April 9th. The quantum computing company reported ($14.29) EPS for the quarter. On average, equities research analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.52 EPS for the current fiscal year.

About Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

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.