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

Key Points

• Analyst sentiment is positive overall: Serve Robotics has a consensus rating of “Moderate Buy” from nine analysts, with seven buy ratings, one hold, and one sell. The average 12-month price target is about $17.51.
• Recent financial results were mixed: The company reported quarterly EPS of -$0.65, missing estimates, while revenue of $2.98 million slightly beat expectations. Analysts still expect Serve Robotics to post a full-year EPS loss of -2.67.
• Insider selling and institutional buying both stood out: A director and the COO recently sold shares, and insiders sold 91,250 shares over the last quarter. At the same time, large investors like Vanguard, Geode Capital, and State Street increased their positions.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.5143.

A number of equities research analysts have recently issued reports on SERV shares. Guggenheim started coverage on Serve Robotics in a report on Monday, April 20th. They set a "buy" rating and a $13.00 price objective for the company. Freedom Capital lowered Serve Robotics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 13th. Weiss Ratings raised Serve Robotics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 17th. Cantor Fitzgerald dropped their price target on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Tuesday, March 17th. Finally, LADENBURG THALM/SH SH boosted their price target on Serve Robotics from $15.00 to $16.60 and gave the company a "buy" rating in a research note on Wednesday, May 13th.

Serve Robotics Stock Performance

NASDAQ SERV opened at $6.31 on Monday. The firm has a 50-day moving average of $8.00 and a 200-day moving average of $9.58. The stock has a market cap of $488.20 million, a PE ratio of -3.14 and a beta of 1.04. Serve Robotics has a 52-week low of $5.78 and a 52-week high of $18.64.

Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The company had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. As a group, analysts predict that Serve Robotics will post -2.67 EPS for the current fiscal year.

Insider Transactions at Serve Robotics

In other news, Director David Michael Goldberg sold 10,600 shares of Serve Robotics stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total transaction of $76,320.00. Following the completion of the sale, the director owned 35,125 shares of the company's stock, valued at approximately $252,900. This trade represents a 23.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Touraj Parang sold 5,993 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total transaction of $55,674.97. Following the completion of the transaction, the chief operating officer owned 1,306,351 shares in the company, valued at $12,136,000.79. This trade represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 91,250 shares of company stock worth $768,253 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Serve Robotics by 25.2% in the third 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 in the last quarter. Geode Capital Management LLC grew its position in Serve Robotics by 29.1% during the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company's stock worth $15,137,000 after buying an additional 328,405 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Serve Robotics by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company's stock worth $12,950,000 after acquiring an additional 138,558 shares during the period. State Street Corp increased its stake in Serve Robotics by 29.5% during the 4th quarter. State Street Corp now owns 1,245,411 shares of the company's stock worth $12,927,000 after acquiring an additional 283,497 shares during the period. Finally, First Trust Advisors LP raised its holdings in 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 acquiring an additional 262,348 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.