Brokers Offer Predictions for Serve Robotics FY2025 Earnings

Serve Robotics Inc. (NASDAQ:SERV - Free Report) - Analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for shares of Serve Robotics in a research report issued to clients and investors on Thursday, May 22nd. Cantor Fitzgerald analyst A. Sheppard forecasts that the company will post earnings of ($0.95) per share for the year. Cantor Fitzgerald currently has a "Overweight" rating on the stock. The consensus estimate for Serve Robotics' current full-year earnings is ($0.98) per share.

Separately, Northland Securities set a $23.00 price target on shares of Serve Robotics in a research report on Tuesday, February 18th. Three analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Serve Robotics currently has a consensus rating of "Strong Buy" and an average price target of $18.67.

Serve Robotics Stock Performance

Shares of NASDAQ:SERV traded down $0.16 on Monday, hitting $12.65. The stock had a trading volume of 5,567,236 shares, compared to its average volume of 9,832,505. The firm's 50 day moving average price is $7.10 and its 200-day moving average price is $10.93. The company has a market capitalization of $721.14 million and a price-to-earnings ratio of -11.93. Serve Robotics has a twelve month low of $1.82 and a twelve month high of $24.35.

Insider Transactions at Serve Robotics

In other news, CEO Ali Kashani sold 3,713 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.21, for a total transaction of $34,196.73. Following the completion of the transaction, the chief executive officer now directly owns 3,225,852 shares of the company's stock, valued at $29,710,096.92. This trade represents a 0.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian Read sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $12.15, for a total transaction of $36,450.00. Following the transaction, the chief financial officer now directly owns 221,000 shares of the company's stock, valued at $2,685,150. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,834 shares of company stock valued at $495,149 in the last ninety days. 21.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Uber Technologies Inc bought a new position in shares of Serve Robotics in the fourth quarter valued at $71,534,000. Vanguard Group Inc. grew its stake in shares of Serve Robotics by 74.6% in the fourth quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company's stock valued at $17,203,000 after buying an additional 544,537 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Serve Robotics by 31.4% in the first quarter. Exchange Traded Concepts LLC now owns 882,522 shares of the company's stock valued at $5,075,000 after buying an additional 210,977 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Serve Robotics in the first quarter valued at $4,244,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Serve Robotics by 616.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company's stock valued at $3,972,000 after buying an additional 584,302 shares in the last quarter.

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.