Serve Robotics Inc. (NASDAQ:SERV) Receives $18.80 Consensus Price Target from Analysts

Serve Robotics Inc. (NASDAQ:SERV) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $18.80.

Several equities research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Freedom Capital upgraded Serve Robotics to a “strong-buy” rating in a research report on Wednesday, December 31st. Oppenheimer assumed coverage on Serve Robotics in a research note on Thursday, December 18th. They issued an “outperform” rating and a $20.00 price objective on the stock. Northland Securities reissued an “outperform” rating and set a $26.00 target price on shares of Serve Robotics in a research note on Friday, January 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 29th.

Serve Robotics Stock Up 1.8%

SERV opened at $14.84 on Monday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -9.96 and a beta of 0.27. Serve Robotics has a twelve month low of $4.66 and a twelve month high of $23.10. The company has a 50-day simple moving average of $11.32 and a 200 day simple moving average of $11.66.

Serve Robotics (NASDAQ:SERV) last issued its earnings results on Wednesday, November 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The firm had revenue of $0.69 million during the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. Sell-side analysts anticipate that Serve Robotics will post -0.98 EPS for the current fiscal year.

Insider Activity at Serve Robotics

In other Serve Robotics news, insider Anthony Armenta sold 3,893 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $14.27, for a total transaction of $55,553.11. Following the sale, the insider owned 551,141 shares of the company’s stock, valued at approximately $7,864,782.07. The trade was a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian Read sold 4,748 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $15.81, for a total value of $75,065.88. Following the completion of the transaction, the chief financial officer owned 330,588 shares of the company’s stock, valued at $5,226,596.28. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 185,170 shares of company stock worth $2,122,739. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP acquired a new stake in Serve Robotics during the 3rd quarter worth approximately $8,840,000. Geode Capital Management LLC lifted its holdings in shares of Serve Robotics by 176.0% during the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after purchasing an additional 560,361 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 521,945 shares during the period. Bank of America Corp DE grew its stake in shares of Serve Robotics by 157.9% in the second quarter. Bank of America Corp DE now owns 401,557 shares of the company’s stock worth $4,594,000 after purchasing an additional 245,858 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Serve Robotics by 280.4% in the first quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock valued at $1,709,000 after purchasing an additional 219,018 shares during the period.

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.