Serve Robotics (NASDAQ:SERV) Coverage Initiated at Guggenheim

Research analysts at Guggenheim assumed coverage on shares of Serve Robotics (NASDAQ:SERV) in a report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $13.00 price target on the stock. Guggenheim’s target price would suggest a potential upside of 33.47% from the company’s previous close.

Other analysts have also issued research reports about the company. Loop Capital set a $16.00 price target on Serve Robotics in a research note on Wednesday, December 31st. Northland Securities reiterated an “outperform” rating and set a $26.00 price objective on shares of Serve Robotics in a research note on Friday, January 2nd. Freedom Capital raised Serve Robotics to a “strong-buy” rating in a report on Wednesday, December 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research note on Friday, March 27th. Finally, Cantor Fitzgerald lowered their target price on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Serve Robotics presently has a consensus rating of “Buy” and an average target price of $17.67.

Serve Robotics Stock Down 2.5%

NASDAQ SERV opened at $9.74 on Monday. Serve Robotics has a twelve month low of $5.18 and a twelve month high of $18.64. The stock has a market cap of $737.22 million, a P/E ratio of -6.13 and a beta of 2.26. The company’s 50-day simple moving average is $9.27 and its 200 day simple moving average is $11.12.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $0.77 million. Research analysts anticipate that Serve Robotics will post -2.39 earnings per share for the current year.

Insider Activity at Serve Robotics

In related news, insider Euan Abraham sold 3,284 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $10.33, for a total transaction of $33,923.72. Following the transaction, the insider owned 238,412 shares in the company, valued at $2,462,795.96. This represents a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian Read sold 3,185 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total transaction of $32,901.05. Following the sale, the chief financial officer directly owned 325,856 shares in the company, valued at approximately $3,366,092.48. This represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 88,837 shares of company stock valued at $866,279. 21.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Serve Robotics

A number of large investors have recently modified their holdings of SERV. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 521,945 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Serve Robotics by 29.1% in the 4th quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after buying an additional 328,405 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of 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 buying an additional 138,558 shares during the period. State Street Corp raised its position in shares of Serve Robotics by 29.5% during the fourth quarter. State Street Corp now owns 1,245,411 shares of the company’s stock worth $12,927,000 after acquiring an additional 283,497 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Serve Robotics by 34.5% during the fourth quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock worth $10,613,000 after acquiring an additional 262,348 shares during the last quarter.

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.