Serve Robotics Inc. (NASDAQ:SERV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. One 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 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.5143.

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

Serve Robotics Price Performance

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 has a 50 day simple moving average of $7.68 and a two-hundred day simple moving average of $9.44. The company has a market capitalization of $458.03 million, a price-to-earnings ratio of -2.95 and a beta of 1.04.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.83 million. Sell-side analysts anticipate that Serve Robotics will post -2.67 EPS for the current fiscal year.

Insider Transactions at Serve Robotics

In related news, Director David Michael Goldberg sold 10,600 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $7.20, for a total value of $76,320.00. Following the completion of the transaction, the director directly owned 35,125 shares of the company’s stock, valued at approximately $252,900. This trade represents a 23.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Read sold 2,790 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total transaction of $25,919.10. Following the completion of the sale, the chief financial officer owned 318,768 shares in the company, valued at $2,961,354.72. This 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 have sold a total of 72,648 shares of company stock valued at $607,904 over the last quarter. 5.00% of the stock is owned by insiders.

Institutional Trading of Serve Robotics

Several hedge funds have recently made changes to their positions in the business. First Trust Advisors LP bought a new position in shares of Serve Robotics in the 3rd quarter valued at about $8,840,000. Vanguard Group Inc. increased its stake in Serve Robotics by 25.2% during the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after acquiring an additional 521,945 shares during the last quarter. Creek Drive Management Group LLC bought a new stake in Serve Robotics during the fourth quarter worth approximately $4,912,000. Geode Capital Management LLC raised its position in Serve Robotics by 29.1% during the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after purchasing an additional 328,405 shares during the period. Finally, Grange Capital LLC bought a new stake in shares of Serve Robotics in the 1st quarter valued at approximately $2,426,000.

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.