Serve Robotics Inc. (NASDAQ:SERV) Receives $17.67 Consensus PT from Brokerages

Serve Robotics Inc. (NASDAQ:SERV) has earned an average recommendation of “Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $17.6667.

Several brokerages have recently commented on SERV. Freedom Capital upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Wednesday, December 31st. Cantor Fitzgerald reduced their price objective on shares of 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 reiterated a “sell (d-)” rating on shares of Serve Robotics in a report on Friday, March 27th. Loop Capital set a $16.00 target price on shares of Serve Robotics in a research report on Wednesday, December 31st. Finally, Northland Securities restated an “outperform” rating and set a $26.00 target price on shares of Serve Robotics in a report on Friday, January 2nd.

Serve Robotics Stock Performance

Shares of NASDAQ SERV opened at $9.22 on Wednesday. The stock has a market cap of $697.86 million, a price-to-earnings ratio of -5.80 and a beta of 2.26. The business has a 50 day simple moving average of $9.27 and a 200 day simple moving average of $11.06. Serve Robotics has a 52 week low of $5.87 and a 52 week high of $18.64.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.03. The firm 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%. On average, analysts predict that Serve Robotics will post -2.39 EPS for the current year.

Insider Activity at Serve Robotics

In other Serve Robotics news, COO Touraj Parang sold 5,998 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total transaction of $61,959.34. Following the transaction, the chief operating officer owned 1,323,685 shares in the company, valued at $13,673,666.05. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony Armenta sold 3,567 shares of Serve Robotics stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $9.82, for a total transaction of $35,027.94. Following the completion of the transaction, the insider directly owned 540,919 shares in the company, valued at approximately $5,311,824.58. This represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 88,837 shares of company stock valued at $866,279. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Serve Robotics

Several large investors have recently modified their holdings of SERV. Farther Finance Advisors LLC acquired a new position in Serve Robotics in the 3rd quarter valued at $27,000. Gordian Capital Singapore Pte Ltd acquired a new position in Serve Robotics during the 4th quarter worth $31,000. Quadrant Capital Group LLC bought a new stake in Serve Robotics during the fourth quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its holdings in Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after acquiring an additional 2,392 shares during the period. Finally, CWM LLC grew its position 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 purchasing 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.