Serve Robotics (NASDAQ:SERV) Upgraded to Strong-Buy at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Serve Robotics (NASDAQ:SERV) to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on SERV. Guggenheim assumed coverage on shares of Serve Robotics in a research note on Monday, April 20th. They set a “buy” rating and a $13.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research note on Friday, March 27th. Finally, Cantor Fitzgerald decreased their price target on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $17.67.

Serve Robotics Stock Up 4.8%

Shares of SERV stock opened at $9.58 on Wednesday. The company has a 50 day moving average of $9.26 and a 200-day moving average of $10.72. Serve Robotics has a 12-month low of $5.87 and a 12-month high of $18.64. The firm has a market cap of $740.73 million, a P/E ratio of -6.03 and a beta of 0.96.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.03. Serve Robotics had a negative net margin of 3,821.98% and a negative return on equity of 38.54%. The company had revenue of $0.88 million during the quarter, compared to analyst estimates of $0.77 million. As a group, equities analysts expect that Serve Robotics will post -2.59 EPS for the current year.

Insider Activity at Serve Robotics

In other Serve Robotics news, COO Touraj Parang sold 3,922 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $9.72, for a total value of $38,121.84. Following the completion of the transaction, the chief operating officer directly owned 1,316,205 shares of the company’s stock, valued at $12,793,512.60. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ali Kashani sold 14,541 shares of the firm’s 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 transaction, 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 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. In the last ninety days, insiders sold 61,978 shares of company stock worth $586,826. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SERV. Farther Finance Advisors LLC bought a new position in Serve Robotics in the 3rd quarter valued at $27,000. Gordian Capital Singapore Pte Ltd bought a new position in Serve Robotics in the 4th quarter valued at $31,000. Quadrant Capital Group LLC bought a new position in Serve Robotics in the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC boosted its holdings in Serve Robotics by 299.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after purchasing an additional 2,392 shares during the period. Finally, CWM LLC boosted its holdings in Serve Robotics by 514.1% in the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after purchasing an additional 2,879 shares during the period.

Serve Robotics Company Profile

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.