WeRide Inc. (NASDAQ:WRD) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• WeRide has a “Moderate Buy” consensus rating from eight analysts: six buys, one hold and one sell. The average 12-month price target is $12.32, compared with the stock’s opening price of $6.08.
• Recent analyst views are mixed: Bank of America reiterated a buy rating with a $10.70 target, while Weiss Ratings and Wall Street Zen downgraded the stock to sell and Zacks Research cut its rating to hold.
• WeRide reported quarterly revenue of $34.11 million and a loss of $0.18 per share, with a negative net margin of 199.09%. Several institutional investors increased their stakes, including Bank of America, UBS and Sumitomo Mitsui Trust.

WeRide Inc. (NASDAQ:WRD - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $12.32.

A number of research analysts have commented on the stock. Bank of America restated a "buy" rating and issued a $10.70 price objective on shares of WeRide in a research note on Friday. Weiss Ratings downgraded shares of WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 12th. Zacks Research downgraded WeRide from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut WeRide from a "hold" rating to a "sell" rating in a research report on Saturday.

WeRide Price Performance

WRD stock opened at $6.08 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 5.00 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.89 billion, a P/E ratio of -8.11 and a beta of 1.89. The business has a 50 day simple moving average of $5.90 and a 200-day simple moving average of $6.87. WeRide has a twelve month low of $5.18 and a twelve month high of $12.55.

WeRide (NASDAQ:WRD - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported ($0.18) EPS for the quarter. WeRide had a negative net margin of 199.09% and a negative return on equity of 24.12%. The business had revenue of $34.11 million during the quarter. As a group, equities analysts anticipate that WeRide will post -0.53 EPS for the current year.

Institutional Trading of WeRide

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in shares of WeRide by 4,926.0% in the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company's stock worth $29,086,000 after acquiring an additional 3,523,785 shares during the last quarter. UBS Group AG lifted its stake in shares of WeRide by 89.2% during the fourth quarter. UBS Group AG now owns 2,768,106 shares of the company's stock valued at $24,027,000 after buying an additional 1,305,321 shares during the period. FengHe Fund Management Pte. Ltd. boosted its position in WeRide by 198.5% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company's stock worth $36,241,000 after acquiring an additional 2,776,381 shares during the last quarter. California Public Employees Retirement System purchased a new stake in WeRide in the 1st quarter worth approximately $1,845,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in WeRide by 229.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company's stock valued at $18,656,000 after acquiring an additional 1,605,657 shares during the last quarter.

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.

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