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

Shares of Serve Robotics Inc. (NASDAQ:SERV) have received an average rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $17.5143.

A number of research analysts have commented on the company. Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday. LADENBURG THALM/SH SH increased their target price on Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald cut their price target on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Guggenheim started coverage on Serve Robotics in a report on Monday, April 20th. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a report on Friday, March 27th.

Insider Buying and Selling

In related news, insider Anthony Armenta sold 3,567 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $9.82, for a total value of $35,027.94. Following the sale, the insider owned 540,919 shares of the company’s stock, 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 this hyperlink. Also, COO Touraj Parang sold 3,888 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $9.26, for a total value of $36,002.88. Following the completion of the sale, the chief operating officer directly owned 1,302,463 shares in the company, valued at approximately $12,060,807.38. This trade represents a 0.30% 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. In the last 90 days, insiders sold 83,438 shares of company stock worth $772,667. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Serve Robotics

Hedge funds have recently made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics in the 4th quarter worth approximately $31,000. Quadrant Capital Group LLC bought a new stake in shares of Serve Robotics in the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Serve Robotics by 299.0% in 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 during the last quarter. CWM LLC lifted its holdings in shares of Serve Robotics by 514.1% in the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after purchasing an additional 2,879 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Serve Robotics by 149.3% in the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock worth $39,000 after purchasing an additional 2,240 shares during the last quarter.

Serve Robotics Stock Down 5.7%

NASDAQ:SERV opened at $8.24 on Friday. The business’s 50 day moving average is $9.08 and its two-hundred day moving average is $10.49. Serve Robotics has a 52 week low of $7.66 and a 52 week high of $18.64. The company has a market cap of $637.55 million, a PE ratio of -4.10 and a beta of 0.96.

Serve Robotics (NASDAQ:SERV) last released its 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 return on equity of 47.31% and a negative net margin of 2,639.98%.The firm had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. As a group, sell-side analysts expect that Serve Robotics will post -2.58 EPS for the current fiscal 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.