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

Shares of WeRide Inc. (NASDAQ:WRD) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $12.4833.

Several equities research analysts recently commented on the company. Zacks Research cut WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Wall Street Zen cut WeRide from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. BNP Paribas Exane assumed 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. Citigroup reaffirmed a “buy” rating on shares of WeRide in a research report on Monday, January 19th. Finally, Weiss Ratings cut WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th.

Institutional Investors Weigh In On WeRide

Several institutional investors have recently modified their holdings of WRD. NewEdge Advisors LLC purchased a new stake in shares of WeRide during the first quarter valued at $27,000. JPMorgan Chase & Co. bought a new position in WeRide in the second quarter valued at about $30,000. First Trust Advisors LP bought a new position in WeRide in the second quarter valued at about $98,000. Marshall Wace LLP bought a new position in WeRide in the second quarter valued at about $326,000. Finally, Vienna Asset Management LLC bought a new position in WeRide in the second quarter valued at about $1,128,000.

WeRide Trading Down 6.1%

NASDAQ WRD opened at $7.14 on Friday. WeRide has a 12 month low of $6.01 and a 12 month high of $12.55. The stock has a market cap of $2.26 billion, a P/E ratio of -9.52 and a beta of 1.88. The stock’s fifty day moving average price is $7.41 and its 200-day moving average price is $8.09.

WeRide (NASDAQ:WRD) last released its earnings results on Tuesday, March 31st. The company reported ($0.17) EPS for the quarter. WeRide had a negative return on equity of 24.18% and a negative net margin of 228.47%.The company had revenue of $16.55 million during the quarter. As a group, analysts forecast that WeRide will post -0.57 earnings per share for the current fiscal year.

About WeRide

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.