Serve Robotics Inc. (NASDAQ:SERV) Receives $19.33 Consensus Target Price from Brokerages

Serve Robotics Inc. (NASDAQ:SERV) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $19.3333.

A number of research firms recently commented on SERV. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday. Northland Securities set a $26.00 price target on shares of Serve Robotics in a research report on Monday, October 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Finally, 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.

Insider Buying and Selling

In related news, COO Touraj Parang sold 53,690 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $10.35, for a total transaction of $555,691.50. Following the completion of the sale, the chief operating officer directly owned 1,365,416 shares of the company’s stock, valued at approximately $14,132,055.60. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony Armenta sold 49,082 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $9.32, for a total value of $457,444.24. Following the completion of the transaction, the insider directly owned 560,037 shares in the company, valued at approximately $5,219,544.84. This represents a 8.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 458,709 shares of company stock valued at $5,301,845 over the last quarter. Corporate insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently made changes to their positions in SERV. Captrust Financial Advisors grew its position in Serve Robotics by 23.0% during the third quarter. Captrust Financial Advisors now owns 589,441 shares of the company’s stock valued at $6,855,000 after buying an additional 110,094 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Serve Robotics by 258.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,432 shares of the company’s stock valued at $98,000 after acquiring an additional 6,080 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Serve Robotics by 6.4% during the 3rd quarter. Advisory Services Network LLC now owns 46,448 shares of the company’s stock valued at $540,000 after acquiring an additional 2,797 shares during the period. Verition Fund Management LLC grew its position in shares of Serve Robotics by 101.0% during the 3rd quarter. Verition Fund Management LLC now owns 127,515 shares of the company’s stock valued at $1,483,000 after acquiring an additional 64,068 shares during the period. Finally, Prosperity Wealth Management Inc. increased its stake in shares of Serve Robotics by 162.5% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 42,000 shares of the company’s stock worth $488,000 after purchasing an additional 26,000 shares during the last quarter.

Serve Robotics Stock Performance

Shares of NASDAQ SERV opened at $9.71 on Friday. The stock has a market cap of $723.20 million, a price-to-earnings ratio of -6.52 and a beta of -0.80. Serve Robotics has a fifty-two week low of $4.66 and a fifty-two week high of $24.35. The firm’s 50-day simple moving average is $12.55 and its 200 day simple moving average is $11.45.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%.The company had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts predict that Serve Robotics will post -0.98 EPS for the current year.

About Serve Robotics

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.