Northland Capmk Lowers Earnings Estimates for Serve Robotics

Serve Robotics Inc. (NASDAQ:SERV) – Stock analysts at Northland Capmk dropped their FY2024 earnings estimates for shares of Serve Robotics in a research note issued on Sunday, November 10th. Northland Capmk analyst M. Latimore now anticipates that the company will earn ($1.02) per share for the year, down from their prior forecast of ($0.98). Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Serve Robotics’ current full-year earnings is ($0.96) per share. Northland Capmk also issued estimates for Serve Robotics’ Q4 2024 earnings at ($0.18) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.12) EPS, FY2025 earnings at ($0.66) EPS, Q1 2026 earnings at ($0.13) EPS, Q2 2026 earnings at ($0.11) EPS, Q3 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.39) EPS.

Serve Robotics (NASDAQ:SERV) last released its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter. The business had revenue of $0.47 million for the quarter. Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%.

A number of other equities analysts have also commented on the stock. Northland Securities began coverage on shares of Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 target price on the stock. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Aegis upgraded Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th. Finally, LADENBURG THALM/SH SH started coverage on Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 price target on the stock. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Serve Robotics has a consensus rating of “Strong Buy” and a consensus target price of $16.00.

Serve Robotics Trading Down 7.8 %

SERV stock opened at $8.62 on Wednesday. Serve Robotics has a 12 month low of $1.77 and a 12 month high of $24.09. The business has a 50-day moving average of $8.79.

Institutional Trading of Serve Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new stake in shares of Serve Robotics during the 3rd quarter worth $26,000. GSA Capital Partners LLP bought a new position in Serve Robotics in the third quarter worth about $152,000. Quantum Private Wealth LLC purchased a new stake in shares of Serve Robotics during the third quarter valued at about $80,000. Yong Rong HK Asset Management Ltd bought a new stake in shares of Serve Robotics in the 3rd quarter valued at about $9,636,000. Finally, Harbour Capital Advisors LLC purchased a new position in shares of Serve Robotics in the 3rd quarter worth approximately $198,000.

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.