WeRide Inc. (NASDAQ:WRD) Receives $12.48 Average Price Target from Analysts

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

A number of equities research analysts recently weighed in on WRD shares. HSBC started coverage on WeRide in a research report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price objective on the stock. Zacks Research upgraded WeRide from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 23rd. BNP Paribas Exane started coverage on WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 price objective on the stock. The Goldman Sachs Group started coverage on WeRide in a research report on Thursday, April 16th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research report on Friday, March 27th.

WeRide Stock Down 1.3%

Shares of WRD stock opened at $8.10 on Wednesday. The firm has a market capitalization of $2.57 billion, a P/E ratio of -10.80 and a beta of 2.95. WeRide has a twelve month low of $6.01 and a twelve month high of $12.55. The stock’s fifty day simple moving average is $7.26 and its 200 day simple moving average is $8.41.

WeRide (NASDAQ:WRD) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($0.24) earnings per share for the quarter. The firm had revenue of $44.88 million for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%. As a group, equities research analysts expect that WeRide will post -1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On WeRide

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. increased its stake in shares of WeRide by 37.6% in the third quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock valued at $48,000 after buying an additional 1,339 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of WeRide in the first quarter valued at about $27,000. First Trust Advisors LP increased its stake in shares of WeRide by 16.4% in the fourth quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock valued at $162,000 after buying an additional 2,627 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of WeRide in the second quarter valued at about $30,000. Finally, Concurrent Investment Advisors LLC increased its stake in shares of WeRide by 11.0% in the third quarter. Concurrent Investment Advisors LLC now owns 40,250 shares of the company’s stock valued at $398,000 after buying an additional 3,975 shares during the period.

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.