Serve Robotics Inc. (NASDAQ:SERV) Receives Consensus Recommendation of "Buy" from Analysts

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) has received a consensus recommendation of "Buy" from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $17.6667.

A number of equities analysts have weighed in on the company. Guggenheim assumed coverage on Serve Robotics in a research report on Monday. They set a "buy" rating and a $13.00 price target for the company. Loop Capital set a $16.00 price target on Serve Robotics in a research report on Wednesday, December 31st. Freedom Capital raised Serve Robotics to a "strong-buy" rating in a research report on Wednesday, December 31st. Northland Securities reaffirmed an "outperform" rating and set a $26.00 price target on shares of Serve Robotics in a research report on Friday, January 2nd. Finally, Cantor Fitzgerald reduced their price target on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Tuesday, March 17th.

Serve Robotics Stock Down 2.5%

NASDAQ:SERV opened at $9.74 on Wednesday. Serve Robotics has a twelve month low of $5.18 and a twelve month high of $18.64. The business has a 50 day moving average price of $9.27 and a two-hundred day moving average price of $11.12. The company has a market cap of $737.22 million, a P/E ratio of -6.13 and a beta of 2.26.

Serve Robotics (NASDAQ:SERV - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.46) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.03. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%.The firm had revenue of $0.88 million during the quarter, compared to the consensus estimate of $0.77 million. As a group, analysts anticipate that Serve Robotics will post -2.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Euan Abraham sold 3,284 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total value of $33,923.72. Following the completion of the sale, the insider owned 238,412 shares of the company's stock, valued at approximately $2,462,795.96. This represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ali Kashani sold 14,541 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $8.62, for a total value of $125,343.42. Following the completion of the sale, the chief executive officer directly owned 3,320,373 shares of the company's stock, valued at approximately $28,621,615.26. The trade was a 0.44% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 88,837 shares of company stock worth $866,279 in the last quarter. 21.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Serve Robotics

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Serve Robotics by 25.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company's stock valued at $30,178,000 after buying an additional 521,945 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Serve Robotics by 29.1% in the 4th quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company's stock valued at $15,137,000 after buying an additional 328,405 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings 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 valued at $12,950,000 after buying an additional 138,558 shares during the last quarter. State Street Corp boosted its holdings in shares of Serve Robotics by 29.5% in the 4th quarter. State Street Corp now owns 1,245,411 shares of the company's stock valued at $12,927,000 after buying an additional 283,497 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Serve Robotics by 34.5% in the 4th quarter. First Trust Advisors LP now owns 1,022,459 shares of the company's stock valued at $10,613,000 after buying an additional 262,348 shares during the last quarter.

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.

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