Northland Capmk Expects Reduced Earnings for Serve Robotics

Serve Robotics Inc. (NASDAQ:SERV) – Investment analysts at Northland Capmk lowered their FY2024 earnings per share (EPS) estimates for Serve Robotics in a note issued to investors on Sunday, November 10th. Northland Capmk analyst M. Latimore now expects that the company will post earnings per share of ($1.02) for the year, down from their prior estimate of ($0.98). Northland Capmk currently has a “Strong-Buy” rating on the stock. The consensus estimate for Serve Robotics’ current full-year earnings is ($0.95) 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.

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

Serve Robotics Stock Down 3.0 %

Shares of SERV opened at $8.36 on Wednesday. Serve Robotics has a 1 year low of $1.77 and a 1 year high of $24.09. The business’s 50-day moving average is $8.81.

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

Institutional Investors Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $26,000. Bfsg LLC bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $38,000. Quantum Private Wealth LLC bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $80,000. GSA Capital Partners LLP bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $152,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $198,000.

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.