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

Serve Robotics Inc. (NASDAQ:SERV) has been given a consensus rating of “Strong Buy” by the four research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.00.

Several equities research analysts have recently weighed in on SERV shares. Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Aegis upgraded Serve Robotics to a “strong-buy” rating in a research note on Wednesday, July 24th. Northland Securities assumed coverage on shares of Serve Robotics in a research note on Friday, October 18th. They set an “outperform” rating and a $16.00 target price for the company. Finally, Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th.

Serve Robotics Trading Down 6.5 %

SERV stock opened at $9.05 on Friday. The company’s fifty day moving average price is $8.79. Serve Robotics has a twelve month low of $1.77 and a twelve month high of $24.09.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. The firm had revenue of $0.47 million for the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. As a group, analysts anticipate that Serve Robotics will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds have recently made changes to their positions in the company. Bfsg LLC purchased a new position in shares of Serve Robotics during the third quarter valued at $38,000. Harbour Capital Advisors LLC purchased a new position in Serve Robotics during the third quarter valued at approximately $198,000. PFG Investments LLC purchased a new position in Serve Robotics during the second quarter valued at approximately $110,000. Finally, Thomist Capital Management LP purchased a new stake in Serve Robotics during the second quarter worth $407,000.

Serve Robotics Company Profile

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.