Serve Robotics Inc. (NASDAQ:SERV) Receives $17.51 Average Price Target from Analysts

Serve Robotics Inc. (NASDAQ:SERV) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.5143.

Several research analysts have issued reports on the company. Cantor Fitzgerald dropped their price objective on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Weiss Ratings upgraded shares of Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Guggenheim assumed coverage on shares of Serve Robotics in a report on Monday, April 20th. They issued a “buy” rating and a $13.00 target price on the stock. LADENBURG THALM/SH SH increased their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Freedom Capital downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th.

Serve Robotics Trading Down 2.0%

SERV stock opened at $5.92 on Monday. Serve Robotics has a 1-year low of $5.76 and a 1-year high of $18.64. The business’s 50 day moving average is $7.68 and its 200-day moving average is $9.45. The firm has a market cap of $458.03 million, a P/E ratio of -2.95 and a beta of 1.04.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The company had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. Sell-side analysts forecast that Serve Robotics will post -2.67 EPS for the current year.

Insider Activity

In other news, CEO Ali Kashani sold 15,885 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total transaction of $115,007.40. Following the completion of the sale, the chief executive officer owned 3,278,091 shares of the company’s stock, valued at approximately $23,733,378.84. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Read sold 2,790 shares of Serve Robotics stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total transaction of $25,919.10. Following the completion of the transaction, the chief financial officer owned 318,768 shares of the company’s stock, valued at $2,961,354.72. This trade represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 72,648 shares of company stock valued at $607,904 over the last three months. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Serve Robotics

Several institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in Serve Robotics in the second quarter worth $26,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics in the fourth quarter valued at $31,000. Quadrant Capital Group LLC acquired a new stake in shares of Serve Robotics in the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC raised its holdings in shares of Serve Robotics by 299.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after buying an additional 2,392 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after buying an additional 2,879 shares during the last quarter.

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.