Analysts Set WeRide Inc. (NASDAQ:WRD) Price Target at $12.48

WeRide Inc. (NASDAQ:WRD) has received an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $12.4833.

Several equities analysts have recently commented on the stock. BNP Paribas Exane initiated coverage on shares of WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 price target on the stock. Zacks Research raised WeRide from a “hold” rating to a “strong-buy” rating in a report on Monday, March 23rd. CLSA started coverage on WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective on the stock. HSBC initiated coverage on WeRide in a report on Tuesday, March 31st. They set a “buy” rating and a $11.40 target price on the stock. Finally, Citigroup reiterated a “buy” rating on shares of WeRide in a report on Monday, January 19th.

Institutional Trading of WeRide

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. raised its holdings in shares of WeRide by 37.6% during the third quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock worth $48,000 after purchasing an additional 1,339 shares during the period. NewEdge Advisors LLC bought a new stake in shares of WeRide during the 1st quarter valued at about $27,000. First Trust Advisors LP raised its stake in WeRide by 16.4% during the fourth quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock worth $162,000 after acquiring an additional 2,627 shares during the period. JPMorgan Chase & Co. acquired a new stake in WeRide during the second quarter worth about $30,000. Finally, Concurrent Investment Advisors LLC lifted its holdings in WeRide by 11.0% in the third quarter. Concurrent Investment Advisors LLC now owns 40,250 shares of the company’s stock worth $398,000 after acquiring an additional 3,975 shares during the last quarter.

WeRide Trading Up 2.1%

Shares of NASDAQ:WRD opened at $8.21 on Wednesday. The firm has a market cap of $2.61 billion, a PE ratio of -10.95 and a beta of 2.95. The company has a fifty day simple moving average of $7.25 and a 200 day simple moving average of $8.48. WeRide has a 12-month low of $6.01 and a 12-month high of $12.55.

WeRide (NASDAQ:WRD) last posted its quarterly earnings data on Monday, March 23rd. The company reported ($0.24) EPS for the quarter. The company had revenue of $44.88 million for the quarter. WeRide had a negative net margin of 240.54% and a negative return on equity of 24.38%. As a group, equities research analysts forecast that WeRide will post -0.68 EPS for the current fiscal year.

WeRide Company Profile

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.