Serve Robotics (SERV) Projected to Post Earnings on Thursday

Serve Robotics (NASDAQ:SERV) will likely be posting 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 issued its earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.36 million. Serve Robotics had a negative net margin of 1,972.12% and a negative return on equity of 184.60%. 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 Down 4.9 %

Shares of NASDAQ SERV opened at $15.78 on Tuesday. Serve Robotics has a 12-month low of $1.77 and a 12-month high of $24.35. The stock’s fifty day simple moving average is $14.74 and its two-hundred day simple moving average is $11.50.

Insider Buying and Selling at Serve Robotics

In other news, CEO Ali Kashani sold 37,500 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.16, for a total value of $793,500.00. Following the completion of the sale, the chief executive officer now directly owns 3,230,990 shares in the company, valued at $68,367,748.40. The trade was a 1.15 % decrease in their ownership of the stock. 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 company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.57, for a total value of $551,976.56. Following the transaction, the director now directly owns 449,052 shares of the company’s stock, valued at approximately $3,848,375.64. The trade was a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,027 shares of company stock valued at $3,309,166. 21.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.