Serve Robotics Inc. (NASDAQ:SERV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Serve Robotics Inc. (NASDAQ:SERVGet Free Report) has earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $17.5143.

A number of equities research analysts have recently issued reports on SERV shares. Weiss Ratings lowered shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. LADENBURG THALM/SH SH upped their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald cut their target price on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Freedom Capital lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Guggenheim began coverage on shares of Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price objective for the company.

View Our Latest Stock Report on SERV

Insider Activity at Serve Robotics

In related news, CEO Ali Kashani sold 15,885 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total transaction of $115,007.40. Following the completion of the sale, the chief executive officer owned 3,278,091 shares of the company’s stock, valued at $23,733,378.84. This represents a 0.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Touraj Parang sold 4,219 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total transaction of $30,545.56. Following the sale, the chief operating officer directly owned 1,298,244 shares of the company’s stock, valued at approximately $9,399,286.56. This represents a 0.32% 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 sold a total of 80,650 shares of company stock valued at $691,933 in the last quarter. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd bought a new position in Serve Robotics in the 4th quarter worth about $31,000. Quadrant Capital Group LLC bought a new position in Serve Robotics in the 4th quarter worth about $31,000. EverSource Wealth Advisors LLC grew its position in Serve Robotics by 299.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock worth $33,000 after purchasing an additional 2,392 shares during the last quarter. CWM LLC grew its position in Serve Robotics by 514.1% in the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after purchasing an additional 2,879 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Serve Robotics by 149.3% in the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock worth $39,000 after purchasing an additional 2,240 shares during the last quarter.

Serve Robotics Stock Performance

Shares of Serve Robotics stock opened at $6.69 on Thursday. The firm has a market cap of $517.61 million, a PE ratio of -3.33 and a beta of 0.53. The firm’s 50-day simple moving average is $8.63 and its 200-day simple moving average is $10.05. Serve Robotics has a 1 year low of $6.49 and a 1 year high of $18.64.

Serve Robotics (NASDAQ:SERVGet Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). The company had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. On average, equities analysts predict that Serve Robotics will post -2.64 earnings per share for the current year.

About Serve Robotics

(Get Free Report)

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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Analyst Recommendations for Serve Robotics (NASDAQ:SERV)

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