Serve Robotics Inc. (NASDAQ:SERV) Receives Average Rating of “Buy” from Brokerages

Serve Robotics Inc. (NASDAQ:SERV) has received an average recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $18.60.

Several brokerages recently commented on SERV. Freedom Capital upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Wednesday, December 31st. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Northland Securities reiterated an “outperform” rating and issued a $26.00 price objective on shares of Serve Robotics in a research note on Friday, January 2nd. Cantor Fitzgerald cut their price objective on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Finally, Oppenheimer began coverage on Serve Robotics in a research note on Thursday, December 18th. They set an “outperform” rating and a $20.00 target price for the company.

Insiders Place Their Bets

In related news, CEO Ali Kashani sold 13,500 shares of Serve Robotics stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $9.72, for a total transaction of $131,220.00. Following the sale, the chief executive officer directly owned 3,334,914 shares of the company’s stock, valued at $32,415,364.08. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony Armenta sold 3,893 shares of Serve Robotics stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $14.27, for a total value of $55,553.11. Following the sale, the insider directly owned 551,141 shares in the company, valued at $7,864,782.07. The trade was a 0.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 93,741 shares of company stock valued at $1,048,228 in the last three months. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Serve Robotics

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new stake in shares of Serve Robotics during the 3rd quarter valued at about $27,000. Gordian Capital Singapore Pte Ltd acquired a new position in Serve Robotics in the fourth quarter worth about $31,000. Quadrant Capital Group LLC acquired a new position in Serve Robotics in the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its stake in 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 during the period. Finally, CWM LLC boosted its holdings in Serve Robotics by 514.1% during the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after purchasing an additional 2,879 shares in the last quarter.

Serve Robotics Price Performance

Shares of Serve Robotics stock opened at $8.45 on Friday. Serve Robotics has a 12-month low of $4.66 and a 12-month high of $18.64. The stock has a 50 day moving average price of $9.75 and a two-hundred day moving average price of $11.44. The stock has a market capitalization of $639.58 million, a P/E ratio of -5.31 and a beta of 2.26.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Wednesday, March 11th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.03. The company had revenue of $0.88 million for the quarter, compared to analyst estimates of $0.77 million. Serve Robotics had a negative net margin of 3,821.98% and a negative return on equity of 38.54%. Sell-side analysts anticipate that Serve Robotics will post -0.98 earnings per share for the current year.

About Serve Robotics

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.