Self-driving tech company WeRide accelerates global expansion as transportation industry adopts AI
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 30 2024
0mins
Should l Buy GOOGL?
Source: CNBC
WeRide's Global Expansion: Self-driving technology firm WeRide is rapidly expanding its operations globally, with recent safety tests for autonomous vehicles in Singapore and plans to enter markets like Japan and Europe. The company has received permits for driverless operations in multiple countries, including the U.S., China, UAE, and Singapore.
IPO Filing and Market Context: WeRide has filed for an initial public offering on Nasdaq, potentially marking a significant U.S. listing by a Chinese company since Didi's IPO. The firm faces various legal and operational risks due to its primary operations in mainland China, while also highlighting the importance of supportive regulatory environments for the development of autonomous vehicle technology.
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Analyst Views on GOOGL
Wall Street analysts forecast GOOGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GOOGL is 338.25 USD with a low forecast of 279.00 USD and a high forecast of 390.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
34 Analyst Rating
27 Buy
7 Hold
0 Sell
Strong Buy
Current: 322.860
Low
279.00
Averages
338.25
High
390.00
Current: 322.860
Low
279.00
Averages
338.25
High
390.00
About GOOGL
Alphabet Inc. is a holding company. The Company's segments include Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment includes infrastructure and platform services, collaboration tools, and other services for enterprise customers. Its Other Bets segment is engaged in the sale of healthcare-related services and Internet services. Its Google Cloud provides enterprise-ready cloud services, including Google Cloud Platform and Google Workspace. Google Cloud Platform provides access to solutions such as artificial intelligence (AI) offerings, including its AI infrastructure, Vertex AI platform, and Gemini for Google Cloud; cybersecurity, and data and analytics. Google Workspace includes cloud-based communication and collaboration tools for enterprises, such as Calendar, Gmail, Docs, Drive, and Meet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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