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

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $17.5143.

Several research analysts have commented on the stock. Cantor Fitzgerald reduced their target price 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. Guggenheim assumed coverage on shares of Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 target price on the stock. LADENBURG THALM/SH SH upped 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. Weiss Ratings downgraded shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, Freedom Capital downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th.

Insider Activity at Serve Robotics

In related news, CFO Brian Read sold 2,790 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total transaction of $25,919.10. Following the sale, the chief financial officer directly owned 318,768 shares of the company’s stock, valued at approximately $2,961,354.72. This represents a 0.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ali Kashani sold 15,885 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total transaction of $115,007.40. Following the sale, the chief executive officer directly owned 3,278,091 shares in the company, valued at $23,733,378.84. This trade represents a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 80,650 shares of company stock valued at $691,933. 5.00% of the stock is owned by insiders.

Institutional Trading of Serve Robotics

A number of institutional investors have recently made changes to their positions in the stock. Main Management ETF Advisors LLC boosted its holdings in shares of Serve Robotics by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 166,779 shares of the company’s stock valued at $1,731,000 after acquiring an additional 1,704 shares during the last quarter. Creative Planning boosted its holdings in shares of Serve Robotics by 14.5% during the 3rd quarter. Creative Planning now owns 14,800 shares of the company’s stock valued at $172,000 after acquiring an additional 1,877 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Serve Robotics by 38.0% during the 4th quarter. Russell Investments Group Ltd. now owns 7,003 shares of the company’s stock valued at $73,000 after acquiring an additional 1,927 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Serve Robotics by 9.0% during the 3rd quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company’s stock valued at $282,000 after acquiring an additional 2,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Serve Robotics by 65.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company’s stock valued at $45,000 after acquiring an additional 2,082 shares during the last quarter.

Serve Robotics Stock Performance

Shares of SERV opened at $7.22 on Thursday. The firm has a market cap of $558.61 million, a price-to-earnings ratio of -3.59 and a beta of 0.55. Serve Robotics has a fifty-two week low of $6.84 and a fifty-two week high of $18.64. The firm has a 50 day moving average price of $8.70 and a 200-day moving average price of $10.10.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) EPS 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 for the quarter, compared to the consensus estimate of $2.83 million. As a group, equities research analysts predict that Serve Robotics will post -2.64 earnings per share for the current year.

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.