Serve Robotics Inc. (NASDAQ:SERV) Receives $17.67 Average Price Target from Analysts

Shares of Serve Robotics Inc. (NASDAQ:SERV) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.6667.

Several equities research analysts have commented on SERV shares. Cantor Fitzgerald cut their price target on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Guggenheim assumed coverage on Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 target price on the stock. Freedom Capital upgraded Serve Robotics to a “strong-buy” rating in a report on Wednesday, December 31st. Loop Capital set a $16.00 price target on Serve Robotics in a research report on Wednesday, December 31st. Finally, Northland Securities restated an “outperform” rating and issued a $26.00 price target on shares of Serve Robotics in a research note on Friday, January 2nd.

Insider Buying and Selling

In related news, insider Euan Abraham sold 3,284 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $10.33, for a total value of $33,923.72. Following the completion of the transaction, the insider directly owned 238,412 shares of the company’s stock, valued at approximately $2,462,795.96. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ali Kashani sold 14,541 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $8.62, for a total transaction of $125,343.42. Following the completion of the sale, the chief executive officer owned 3,320,373 shares of the company’s stock, valued at approximately $28,621,615.26. This represents 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.

Hedge Funds Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in 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 during the period. Geode Capital Management LLC increased its holdings in shares of Serve Robotics by 29.1% during the 4th quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock worth $15,137,000 after acquiring an additional 328,405 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in 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 acquiring an additional 138,558 shares during the period. State Street Corp raised its stake in 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 acquiring an additional 283,497 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Serve Robotics by 34.5% during the 4th quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock valued at $10,613,000 after purchasing an additional 262,348 shares during the last quarter.

Serve Robotics Trading Down 4.7%

SERV stock opened at $9.43 on Wednesday. The stock has a 50-day moving average price of $9.28 and a two-hundred day moving average price of $10.92. The stock has a market cap of $713.76 million, a PE ratio of -5.93 and a beta of 2.26. Serve Robotics has a 1 year low of $5.87 and a 1 year high of $18.64.

Serve Robotics (NASDAQ:SERV) 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. The firm had revenue of $0.88 million during the quarter, compared to the consensus estimate of $0.77 million. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%. On average, analysts forecast that Serve Robotics will post -2.39 earnings per share for the current fiscal year.

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.