Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) Downgraded to “Strong Sell” Rating by Wall Street Zen

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) was downgraded by equities research analysts at Wall Street Zen to a “strong sell” rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on XNDU. Weiss Ratings raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday. Northland Securities started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Monday, April 20th. They set an “outperform” rating and a $43.00 price target on the stock. Canaccord Genuity Group started coverage on shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares in a research report on Thursday, April 23rd. They set a “buy” rating and a $45.00 price target on the stock. Finally, Zacks Research raised shares of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares to a “hold” rating in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares 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 Down 6.6%

Shares of XNDU stock opened at $16.17 on Friday. Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares has a 12 month low of $6.97 and a 12 month high of $42.44.

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (NASDAQ:XNDU) last announced its quarterly earnings data on Thursday, May 14th. The quantum computing company reported ($0.28) EPS for the quarter. The firm had revenue of $2.83 million for the quarter, compared to analyst estimates of $0.70 million. As a group, analysts predict that Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares will post -0.48 earnings per share 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.