Northland Securities Reaffirms “Outperform” Rating for Serve Robotics (NASDAQ:SERV)

by · The Cerbat Gem

Serve Robotics (NASDAQ:SERV – Get Free Report)‘s stock had its “outperform” rating reaffirmed by research analysts at Northland Securities in a report issued on Friday,Benzinga reports. They currently have a $26.00 price target on the stock. Northland Securities’ target price would suggest a potential upside of 123.68% from the stock’s current price.

SERV has been the topic of a number of other reports. Citigroup restated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. LADENBURG THALM/SH SH upgraded Serve Robotics to a “strong-buy” rating in a report on Thursday, December 18th. Loop Capital set a $16.00 target price on Serve Robotics in a report on Wednesday. Finally, Oppenheimer started coverage on Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Read Our Latest Research Report on Serve Robotics

Serve Robotics Trading Up 12.0%

Shares of SERV stock traded up $1.24 on Friday, reaching $11.62. 6,832,226 shares of the company’s stock were exchanged, compared to its average volume of 6,903,461. The company’s fifty day simple moving average is $11.02 and its 200 day simple moving average is $11.41. Serve Robotics has a 52 week low of $4.66 and a 52 week high of $24.35. The stock has a market capitalization of $865.76 million, a PE ratio of -7.78 and a beta of 0.30.

Serve Robotics (NASDAQ:SERV – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The business had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. As a group, sell-side analysts predict that Serve Robotics will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Touraj Parang sold 5,000 shares of Serve Robotics stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $13.07, for a total value of $65,350.00. Following the transaction, the chief operating officer owned 1,333,691 shares of the company’s stock, valued at $17,431,341.37. The trade was a 0.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ali Kashani sold 16,730 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $11.87, for a total transaction of $198,585.10. Following the transaction, the chief executive officer owned 3,374,862 shares of the company’s stock, valued at approximately $40,059,611.94. This trade represents a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 226,533 shares of company stock valued at $2,832,641. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Serve Robotics

Several hedge funds have recently made changes to their positions in SERV. Charles Schwab Investment Management Inc. grew its position in Serve Robotics by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock valued at $73,000 after buying an additional 1,545 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Serve Robotics during the 1st quarter worth about $2,064,000. Bosun Asset Management LLC acquired a new stake in shares of Serve Robotics during the 1st quarter valued at about $129,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Serve Robotics by 616.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after purchasing an additional 584,302 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Serve Robotics by 280.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock valued at $1,709,000 after purchasing an additional 219,018 shares in the last quarter.

About Serve Robotics

(Get Free Report)

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.

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