Serve Robotics Inc. (NASDAQ:SERV) Receives $18.80 Consensus PT from Brokerages

Shares of Serve Robotics Inc. (NASDAQ:SERV) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.80.

SERV has been the subject of a number of analyst reports. Citigroup restated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a report on Monday, December 29th. Northland Securities restated an “outperform” rating and issued a $26.00 price objective on shares of Serve Robotics in a report on Friday, January 2nd. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Finally, Oppenheimer started coverage on Serve Robotics in a report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price for the company.

Insider Buying and Selling at Serve Robotics

In related news, COO Touraj Parang sold 9,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $11.78, for a total value of $111,910.00. Following the transaction, the chief operating officer directly owned 1,351,091 shares of the company’s stock, valued at approximately $15,915,851.98. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony Armenta sold 49,082 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $9.32, for a total transaction of $457,444.24. Following the sale, the insider directly owned 560,037 shares of the company’s stock, valued at approximately $5,219,544.84. This trade represents a 8.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 185,170 shares of company stock worth $2,122,739 over the last quarter. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently made changes to their positions in SERV. Exchange Traded Concepts LLC grew its position in shares of Serve Robotics by 12.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock worth $12,950,000 after buying an additional 138,558 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Serve Robotics by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 38,422 shares of the company’s stock valued at $447,000 after acquiring an additional 8,517 shares in the last quarter. Cambria Investment Management L.P. boosted its stake in Serve Robotics by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 74,391 shares of the company’s stock valued at $865,000 after acquiring an additional 14,877 shares in the last quarter. Captrust Financial Advisors grew its holdings in Serve Robotics by 23.0% in the third quarter. Captrust Financial Advisors now owns 589,441 shares of the company’s stock worth $6,855,000 after purchasing an additional 110,094 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Serve Robotics by 258.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,432 shares of the company’s stock worth $98,000 after purchasing an additional 6,080 shares during the last quarter.

Serve Robotics Stock Up 4.0%

Serve Robotics stock opened at $14.99 on Monday. The firm has a fifty day simple moving average of $11.16 and a two-hundred day simple moving average of $11.61. Serve Robotics has a twelve month low of $4.66 and a twelve month high of $23.10. The company has a market capitalization of $1.12 billion, a PE ratio of -10.06 and a beta of 0.27.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The firm had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. As a group, equities analysts expect that Serve Robotics will post -0.98 earnings per share for the current fiscal year.

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.