Bond.az - Macquarie raised its price target on WeRide Inc (NASDAQ:WRD) to $15.90 from $15.30 while maintaining an Outperform rating.
First-quarter sales rose 57% year-over-year to Rmb114 million, driven by higher service revenues. Revenue growth over the last twelve months reached nearly 90%, hitting $97.9 million. The robotaxi fleet expanded to 1,300 units with an average of 17 trips per day, up from 15 in Q4 2025.
WeRide maintained a stable gross margin of approximately 35%. Q1 non-GAAP net loss widened 11% to Rmb326 million. Analysts do not anticipate profitability this year but expect continued sales growth. The stock trades at $7.65 with a market cap of $2.56 billion.
Management expects 2,000 unit deliveries of new GXR models by end-2026. Overseas revenue share is expected to rise in 2026 from one-third in 2025.
The suspension of domestic robotaxi license approvals is temporary, and Middle East business will recover. Quarterly growth slowed due to product sales seasonality and the Iran conflict.
In other news, BofA Securities raised its price target to $11.80. WeRide expanded its partnership with Lenovo to deploy 200,000 autonomous vehicles globally starting in 2026. HSBC initiated coverage with a Buy rating and $11.40 target.
