Macquarie raises WeRide price target to $15.90 after strong revenue and fleet gains

Macquarie raised its price target on WeRide to $15.90 from $15.30 on May 14 and maintained an Outperform rating, according to a note cited by Investing.com. The move followed WeRide’s first-quarter results a day earlier showing revenue growth and a larger robotaxi fleet. WeRide said on May 13 that first-quarter revenue rose 57.6% year over year to 114.1 million yuan, or about $16.5 million, driven by robotaxi and advanced driver-assistance commercialization. The Guangzhou-based autonomous driving company said service revenue increased 49% and product revenue rose 115.8% in the quarter, according to summaries of its earnings release and conference materials. WeRide also said gross profit rose 56% year over year to $5.7 million, while gross margin was 35%. ### What did Macquarie point to in lifting the target? Macquarie’s May 14 note cited WeRide’s first-quarter sales of 114.1 million yuan and said stronger service revenue supported the result, according to Investing.com’s report on the analyst action. (investing.com) The brokerage kept its Outperform rating while nudging the target price higher by 60 cents. The analyst move came after Macquarie had initiated coverage on WeRide with an Outperform rating and a $17.50 target in February, according to StreetInsider. (quartr.com) That earlier target suggests the latest revision still sits below Macquarie’s initial valuation, though the firm continued to recommend the shares. (investing.com) ### What did WeRide report in the quarter? WeRide reported first-quarter revenue of 114.1 million yuan on May 13, versus 72.4 million yuan a year earlier, according to its release and third-party earnings summaries. The company said the increase was driven by growth in robotaxi deployment, Level 2-plus-plus advanced driver-assistance systems, and sales of Level 4 vehicles. The company said registered robotaxi users in China roughly doubled from a year earlier. (streetinsider.com) WeRide also said average daily orders per vehicle exceeded 17 and reached 28 during peak periods. ### How large is WeRide’s robotaxi operation now? WeRide said its global robotaxi fleet had reached about 1,300 vehicles as of its May 13 earnings release. The company also said its broader Level 4 autonomous fleet, including robobuses and robovans, had reached about 2,800 vehicles deployed or tested across 12 countries and more than 40 cities, according to earnings summaries. (weride.ai) More than 1,000 of those robotaxis were operating in China by the end of April, according to market summaries of the company’s quarter. (weride.ai) WeRide has said it has won regulatory approvals for fully driverless commercial operations in the Middle East, Europe and Singapore. ### Where is the company trying to expand next? WeRide said on May 13 that it plans to deploy 200,000 robotaxis and other autonomous vehicles globally over the next five years. (weride.ai) The company tied that target to wider commercialization across robotaxis, robobuses, robovans and ADAS products. Its 2025 annual report said revenue comes from vehicle sales, operational and technical support services, ADAS research and development services, and intelligent data services. (marketchameleon.com) The filing also said WeRide served 164 business customers in 2025, up from 91 in 2024 and 36 in 2023. ### What comes next for investors watching the stock? WeRide trades on Nasdaq under the ticker WRD, and Investing.com showed the stock at $7.59 on May 15. (weride.ai) Macquarie’s new $15.90 target and WeRide’s next quarterly update will be the next public markers investors can compare against the company’s fleet and revenue expansion. (investing.com) (ebs.publicnow.com)