Wedbush initiated coverage on shares of Serve Robotics (NASDAQ:SERV - Free Report) in a research note released on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $15.00 price target on the stock.
A number of other equities research analysts have also recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Serve Robotics in a report on Thursday, May 22nd. They set an "overweight" rating on the stock. Seaport Res Ptn downgraded shares of Serve Robotics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $17.75.
Get Our Latest Stock Report on Serve Robotics
Serve Robotics Trading Down 1.3%
SERV traded down $0.15 during midday trading on Wednesday, reaching $11.10. The company's stock had a trading volume of 6,268,033 shares, compared to its average volume of 5,903,057. The firm has a market capitalization of $664.69 million, a price-to-earnings ratio of -9.65 and a beta of -0.11. Serve Robotics has a 1 year low of $4.66 and a 1 year high of $24.35. The stock's 50-day moving average is $10.66 and its 200-day moving average is $9.39.
Serve Robotics (NASDAQ:SERV - Get Free Report) last announced 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 business 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%. As a group, equities research analysts forecast that Serve Robotics will post -0.98 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Serve Robotics news, General Counsel Evan Dunn sold 5,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $10.01, for a total value of $50,050.00. Following the transaction, the general counsel directly owned 230,767 shares in the company, valued at approximately $2,309,977.67. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian Read sold 10,216 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $9.82, for a total transaction of $100,321.12. Following the completion of the transaction, the chief financial officer owned 373,263 shares in the company, valued at $3,665,442.66. The trade was a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,103 shares of company stock valued at $558,253. 5.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of Serve Robotics by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company's stock valued at $73,000 after purchasing an additional 1,545 shares during the period. Creative Planning raised its position in shares of Serve Robotics by 25.9% during the 2nd quarter. Creative Planning now owns 12,923 shares of the company's stock valued at $148,000 after purchasing an additional 2,655 shares during the period. Allworth Financial LP raised its position in shares of Serve Robotics by 316.7% during the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company's stock valued at $45,000 after purchasing an additional 2,964 shares during the period. Brevan Howard Capital Management LP raised its position in shares of Serve Robotics by 34.6% during the 2nd quarter. Brevan Howard Capital Management LP now owns 14,400 shares of the company's stock valued at $165,000 after purchasing an additional 3,699 shares during the period. Finally, Jefferies Financial Group Inc. raised its position in shares of Serve Robotics by 30.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company's stock valued at $232,000 after purchasing an additional 4,000 shares during the period.
Serve Robotics Company Profile
(
Get Free Report)
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.
Featured Articles

Before you consider Serve Robotics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Serve Robotics wasn't on the list.
While Serve Robotics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock the timeless value of gold with our exclusive 2025 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.