Northland Capmk Weighs in on Serve Robotics FY2024 Earnings

Serve Robotics Inc. (NASDAQ:SERV) – Equities researchers at Northland Capmk reduced their FY2024 earnings estimates for shares of Serve Robotics in a research note issued on Sunday, November 10th. Northland Capmk analyst M. Latimore now expects that the company will post earnings of ($1.02) per share for the year, down from their previous estimate of ($0.98). Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Serve Robotics’ current full-year earnings is ($0.95) per share. Northland Capmk also issued estimates for Serve Robotics’ Q4 2024 earnings at ($0.18) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.12) EPS, FY2025 earnings at ($0.66) EPS, Q1 2026 earnings at ($0.13) EPS, Q2 2026 earnings at ($0.11) EPS, Q3 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.39) EPS.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter. The business had revenue of $0.47 million for the quarter. Serve Robotics had a negative net margin of 1,972.12% and a negative return on equity of 184.60%.

Several other research firms have also commented on SERV. Northland Securities started coverage on Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 target price on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 price objective on the stock. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Finally, Aegis raised shares of Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Strong Buy” and an average target price of $16.00.

Serve Robotics Stock Down 6.1 %

NASDAQ SERV opened at $7.85 on Wednesday. The company’s 50-day moving average is $8.82. Serve Robotics has a fifty-two week low of $1.77 and a fifty-two week high of $24.09.

Institutional Trading of Serve Robotics

Several institutional investors have recently bought and sold shares of the business. Yong Rong HK Asset Management Ltd purchased a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $9,636,000. Thomist Capital Management LP acquired a new position in Serve Robotics during the second quarter worth $407,000. PFG Investments LLC acquired a new position in Serve Robotics during the second quarter worth $110,000. Harbour Capital Advisors LLC purchased a new position in Serve Robotics during the third quarter valued at $198,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Serve Robotics in the third quarter valued at about $152,000.

Serve Robotics Company Profile

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.