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

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been given an average recommendation of “Strong Buy” by the four brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $16.00.

A number of research analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Aegis upgraded Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th. Northland Securities assumed coverage on Serve Robotics in a report on Friday. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research note on Friday.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bfsg LLC purchased a new stake in Serve Robotics during the third quarter valued at about $38,000. Harbour Capital Advisors LLC purchased a new stake in shares of Serve Robotics in the 3rd quarter valued at approximately $198,000. PFG Investments LLC purchased a new stake in shares of Serve Robotics in the 2nd quarter valued at approximately $110,000. Finally, Thomist Capital Management LP acquired a new position in Serve Robotics in the 2nd quarter worth approximately $407,000.

Serve Robotics Stock Performance

SERV opened at $10.17 on Friday. The firm has a 50 day simple moving average of $8.80. Serve Robotics has a 12 month low of $1.77 and a 12 month high of $24.09.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter. The company had revenue of $0.47 million during the quarter. Serve Robotics had a negative return on equity of 728.80% and a negative net margin of 2,155.86%. As a group, research analysts expect that Serve Robotics will post -0.94 earnings per share for the current fiscal year.

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.