Serve Robotics (NASDAQ:SERV) Receives New Coverage from Analysts at LADENBURG THALM/SH SH

Equities research analysts at LADENBURG THALM/SH SH assumed coverage on shares of Serve Robotics (NASDAQ:SERV) in a research note issued on Monday, Briefing.com reports. The firm set a “buy” rating and a $16.00 price target on the stock. LADENBURG THALM/SH SH’s target price indicates a potential upside of 64.27% from the company’s current price.

A number of other equities analysts have also issued reports on the stock. Northland Securities started coverage on shares of Serve Robotics in a research report on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price for the company. Aegis upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, July 24th. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Finally, Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus target price of $16.00.

Serve Robotics Stock Performance

SERV stock opened at $9.74 on Monday. Serve Robotics has a fifty-two week low of $1.77 and a fifty-two week high of $24.09. The business has a 50-day moving average price of $8.68.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter. The company had revenue of $0.47 million during the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. As a group, research analysts forecast that Serve Robotics will post -0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Serve Robotics

Large investors have recently made changes to their positions in the business. Bfsg LLC bought a new position in shares of Serve Robotics during the 3rd quarter valued at about $38,000. PFG Investments LLC bought a new position in shares of Serve Robotics during the 2nd quarter valued at about $110,000. Harbour Capital Advisors LLC bought a new position in shares of Serve Robotics during the 3rd quarter valued at about $198,000. Finally, Thomist Capital Management LP bought a new position in shares of Serve Robotics during the 2nd quarter valued at about $407,000.

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.