Serve Robotics Inc. (NASDAQ:SERV) Given Average Recommendation of “Moderate Buy” by Brokerages

Serve Robotics Inc. (NASDAQ:SERV) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $17.5143.

A number of research firms have weighed in on SERV. Cantor Fitzgerald cut their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Weiss Ratings cut shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. LADENBURG THALM/SH SH lifted their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a report on Wednesday, May 13th. Guggenheim began coverage on shares of Serve Robotics in a report on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th.

Serve Robotics Price Performance

NASDAQ SERV opened at $6.98 on Thursday. The company has a market capitalization of $540.06 million, a PE ratio of -3.47 and a beta of 0.53. The company has a fifty day moving average of $8.77 and a 200 day moving average of $10.14. Serve Robotics has a 1 year low of $6.84 and a 1 year high of $18.64.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The firm had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $2.83 million. Research analysts expect that Serve Robotics will post -2.64 earnings per share for the current year.

Insider Activity

In other Serve Robotics news, COO Touraj Parang sold 5,993 shares of Serve Robotics stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total value of $55,674.97. Following the completion of the transaction, the chief operating officer owned 1,306,351 shares of the company’s stock, valued at approximately $12,136,000.79. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ali Kashani sold 14,644 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $9.26, for a total transaction of $135,603.44. Following the sale, the chief executive officer directly owned 3,293,976 shares of the company’s stock, valued at $30,502,217.76. This represents a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 62,617 shares of company stock worth $570,577 over the last three months. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Serve Robotics

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC purchased a new stake in shares of Serve Robotics during the fourth quarter worth about $31,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC increased its stake in shares of Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock worth $33,000 after purchasing an additional 2,392 shares in the last quarter. CWM LLC increased its stake in shares of Serve Robotics by 514.1% during the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after purchasing an additional 2,879 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Serve Robotics by 149.3% during the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock worth $39,000 after purchasing an additional 2,240 shares in the last quarter.

Serve Robotics Company Profile

Serve Robotics develops and operates autonomous sidewalk delivery robots designed to transform last-mile logistics for restaurants, retailers and grocery brands. By combining proprietary hardware, sensor suites and dispatch software, the company enables on-demand deliveries of food, beverages and consumer goods while minimizing reliance on traditional vehicle fleets.

The core Serve robot integrates four-wheeled mobility, LiDAR and vision cameras with AI-driven navigation algorithms to detect obstacles, traverse urban sidewalks and interact safely with pedestrians.