BNP Paribas Exane Initiates Coverage on WeRide (NASDAQ:WRD)

Research analysts at BNP Paribas Exane assumed coverage on shares of WeRide (NASDAQ:WRD) in a research note issued on Thursday. The brokerage set an “outperform” rating and a $11.00 price target on the stock. BNP Paribas Exane’s price target suggests a potential upside of 50.38% from the stock’s current price.

A number of other analysts also recently commented on the stock. CLSA started coverage on shares of WeRide in a report on Monday, January 5th. They issued an “outperform” rating and a $13.00 target price on the stock. Citigroup reaffirmed a “buy” rating on shares of WeRide in a report on Monday, January 19th. Bank of America began coverage on WeRide in a research note on Monday, December 1st. They issued a “buy” rating and a $12.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WeRide in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of WeRide from a “hold” rating to a “strong-buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, WeRide has an average rating of “Moderate Buy” and a consensus price target of $12.70.

WeRide Stock Performance

WRD opened at $7.32 on Thursday. The company has a market capitalization of $2.37 billion, a PE ratio of -9.75 and a beta of 4.36. The stock’s fifty day moving average is $7.46 and its 200-day moving average is $8.79. WeRide has a one year low of $6.01 and a one year high of $15.64.

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

Institutional Trading of WeRide

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC acquired a new position in shares of WeRide during the 1st quarter valued at about $27,000. JPMorgan Chase & Co. bought a new position in shares of WeRide in the second quarter valued at approximately $30,000. Leonteq Securities AG acquired a new stake in shares of WeRide in the fourth quarter worth $36,000. SBI Securities Co. Ltd. boosted its holdings in shares of WeRide by 37.6% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock worth $48,000 after buying an additional 1,339 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in WeRide in the 4th quarter valued at $65,000.

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.