Serve Robotics (SERV) to Release Earnings on Thursday

Serve Robotics (NASDAQ:SERV) is expected to post its quarterly earnings results after the market closes on Thursday, February 6th. Analysts expect Serve Robotics to post earnings of ($0.20) per share for the quarter.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%. The business had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.36 million. On average, analysts expect Serve Robotics to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Serve Robotics Stock Performance

Shares of Serve Robotics stock opened at $15.78 on Tuesday. The business has a 50-day moving average of $14.74 and a 200 day moving average of $11.50. Serve Robotics has a 12 month low of $1.77 and a 12 month high of $24.35.

Insider Activity

In other Serve Robotics news, CEO Ali Kashani sold 2,500 shares of Serve Robotics stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $13.52, for a total value of $33,800.00. Following the completion of the sale, the chief executive officer now owns 3,344,498 shares in the company, valued at $45,217,612.96. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Buckly Jordan sold 64,408 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.57, for a total transaction of $551,976.56. Following the transaction, the director now directly owns 449,052 shares in the company, valued at approximately $3,848,375.64. This represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 253,027 shares of company stock worth $3,309,166 over the last three months. 21.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SERV. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Finally, Northland Securities increased their target price on shares of Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average price target of $19.50.

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.