Serve Robotics (NASDAQ:SERV) Price Target Raised to $16.60

Serve Robotics (NASDAQ:SERV) had its price objective raised by LADENBURG THALM/SH SH from $15.00 to $16.60 in a report published on Wednesday,Benzinga reports. LADENBURG THALM/SH SH currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a report on Friday, March 27th. Guggenheim started coverage on shares of Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Cantor Fitzgerald cut their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.51.

Serve Robotics Price Performance

Shares of Serve Robotics stock opened at $8.24 on Wednesday. The firm has a market cap of $637.53 million, a P/E ratio of -4.10 and a beta of 0.96. The firm has a 50 day simple moving average of $9.08 and a 200 day simple moving average of $10.49. Serve Robotics has a fifty-two week low of $7.66 and a fifty-two week high of $18.64.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results 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 company had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. On average, sell-side analysts expect that Serve Robotics will post -2.58 EPS for the current year.

Insider Activity

In related news, insider Anthony Armenta sold 3,567 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $9.82, for a total value of $35,027.94. Following the completion of the sale, the insider directly owned 540,919 shares in the company, valued at approximately $5,311,824.58. This trade represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Touraj Parang sold 3,888 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $9.26, for a total transaction of $36,002.88. Following the completion of the sale, the chief operating officer owned 1,302,463 shares of the company’s stock, valued at $12,060,807.38. This trade represents a 0.30% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 83,438 shares of company stock valued at $772,667. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC acquired a new position in Serve Robotics in the 4th quarter valued at about $31,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew its position in shares of Serve Robotics by 299.0% during the 4th 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 boosted its position in shares of Serve Robotics by 514.1% during the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Serve Robotics by 149.3% during the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock worth $39,000 after acquiring 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.