FY2025 EPS Estimates for Serve Robotics Reduced by Analyst

Key Points

• Analysts at Cantor Fitzgerald have revised their FY2025 EPS estimate for Serve Robotics to (1.17), down from (0.95), indicating a decline in expected earnings.
• Seaport Res Ptn downgraded Serve Robotics from a "strong-buy" to a "hold" rating, while the average target price for the stock remains at $18.67.
• Serve Robotics reported a quarterly EPS of (0.36), missing the consensus estimate of (0.23) by (0.13), alongside generating revenue of $0.64 million.

Serve Robotics Inc. (NASDAQ:SERV - Free Report) - Stock analysts at Cantor Fitzgerald dropped their FY2025 earnings estimates for shares of Serve Robotics in a research note issued on Tuesday, August 12th. Cantor Fitzgerald analyst A. Sheppard now anticipates that the company will earn ($1.17) per share for the year, down from their prior forecast of ($0.95). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Serve Robotics' current full-year earnings is ($0.98) per share. Cantor Fitzgerald also issued estimates for Serve Robotics' FY2026 earnings at ($1.11) EPS.

Separately, Seaport Res Ptn lowered shares of Serve Robotics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $18.67.

Serve Robotics Price Performance

Shares of NASDAQ:SERV traded down $0.47 during trading on Thursday, reaching $9.71. 3,739,555 shares of the company were exchanged, compared to its average volume of 4,619,324. The firm has a market capitalization of $581.43 million, a PE ratio of -8.44 and a beta of -0.11. The business's fifty day simple moving average is $10.91 and its 200-day simple moving average is $9.91. Serve Robotics has a 12-month low of $4.66 and a 12-month high of $24.35.

Serve Robotics (NASDAQ:SERV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.13). The firm had revenue of $0.64 million during the quarter, compared to analysts' expectations of $0.63 million. Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%.

Insider Activity

In other news, insider Anthony Armenta sold 2,915 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $10.68, for a total transaction of $31,132.20. Following the transaction, the insider directly owned 612,664 shares in the company, valued at approximately $6,543,251.52. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ali Kashani sold 7,467 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $10.74, for a total transaction of $80,195.58. Following the completion of the sale, the chief executive officer owned 3,598,737 shares of the company's stock, valued at approximately $38,650,435.38. This trade represents a 0.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,182 shares of company stock valued at $470,822. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Serve Robotics

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Serve Robotics by 316.7% during the second quarter. Allworth Financial LP now owns 3,900 shares of the company's stock worth $45,000 after buying an additional 2,964 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Serve Robotics during the second quarter worth $55,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Serve Robotics during the first quarter worth $49,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Serve Robotics during the first quarter worth $49,000. Finally, American Century Companies Inc. acquired a new stake in shares of Serve Robotics during the second quarter worth $122,000.

About Serve Robotics

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.