Analysts Set Serve Robotics Inc. (NASDAQ:SERV) PT at $16.00

Serve Robotics Inc. (NASDAQ:SERV) has earned a consensus recommendation of “Strong Buy” from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.00.

A number of brokerages have recently weighed in on SERV. Aegis upgraded Serve Robotics to a “strong-buy” rating in a research note on Wednesday, July 24th. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 price target for the company. Northland Securities started coverage on shares of Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th.

Serve Robotics Stock Performance

Shares of SERV stock opened at $8.00 on Wednesday. The stock’s fifty day moving average price is $8.84 and its 200 day moving average price is $7.02. Serve Robotics has a 1-year low of $1.77 and a 1-year high of $24.09.

Institutional Investors Weigh In On Serve Robotics

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC acquired a new position in shares of Serve Robotics in the 3rd quarter valued at about $26,000. Bfsg LLC acquired a new position in Serve Robotics in the third quarter valued at approximately $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the 3rd quarter worth approximately $68,000. Quantum Private Wealth LLC acquired a new stake in shares of Serve Robotics during the 3rd quarter worth approximately $80,000. Finally, PFG Investments LLC acquired a new stake in shares of Serve Robotics during the 2nd quarter worth approximately $110,000.

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.