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

Shares of Serve Robotics Inc. (NASDAQ:SERV) have received a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.60.

Several brokerages have recently weighed in on SERV. Loop Capital set a $16.00 price objective on shares of Serve Robotics in a report on Wednesday, December 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a report on Friday, March 27th. LADENBURG THALM/SH SH raised shares of Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Cantor Fitzgerald cut their price target on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Finally, Oppenheimer began coverage on shares of Serve Robotics in a report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 price target on the stock.

Serve Robotics Stock Down 0.4%

Shares of NASDAQ:SERV opened at $8.41 on Friday. The company has a market cap of $636.55 million, a P/E ratio of -5.29 and a beta of 2.27. The business has a fifty day simple moving average of $9.94 and a 200-day simple moving average of $11.48. Serve Robotics has a 52 week low of $4.66 and a 52 week high of $18.64.

Serve Robotics (NASDAQ:SERV) last released its earnings results on Wednesday, March 11th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.03. The firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.77 million. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%. Sell-side analysts expect that Serve Robotics will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Serve Robotics

In related news, COO Touraj Parang sold 5,998 shares of Serve Robotics stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total value of $61,959.34. Following the transaction, the chief operating officer owned 1,323,685 shares in the company, valued at approximately $13,673,666.05. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony Armenta sold 3,893 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $14.27, for a total value of $55,553.11. Following the sale, the insider directly owned 551,141 shares of the company’s stock, valued at approximately $7,864,782.07. This trade represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 93,741 shares of company stock valued at $1,048,228. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Serve Robotics

Institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. increased its position in Serve Robotics by 6.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,427 shares of the company’s stock worth $261,000 after purchasing an additional 1,417 shares in the last quarter. Main Management ETF Advisors LLC grew its stake in Serve Robotics by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 166,779 shares of the company’s stock worth $1,731,000 after buying an additional 1,704 shares during the period. Creative Planning grew its stake in Serve Robotics by 14.5% during the third quarter. Creative Planning now owns 14,800 shares of the company’s stock worth $172,000 after buying an additional 1,877 shares during the period. Russell Investments Group Ltd. increased its position in shares of Serve Robotics by 38.0% in the fourth quarter. Russell Investments Group Ltd. now owns 7,003 shares of the company’s stock worth $73,000 after acquiring an additional 1,927 shares in the last quarter. Finally, Phoenix Financial Ltd. increased its position in shares of Serve Robotics by 13.3% in the third quarter. Phoenix Financial Ltd. now owns 17,000 shares of the company’s stock worth $198,000 after acquiring an additional 2,000 shares in the last quarter.

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.