Serve Robotics Inc. (NASDAQ:SERV) Receives $19.50 Consensus Target Price from Analysts

Serve Robotics Inc. (NASDAQ:SERV) has been given a consensus rating of “Strong Buy” by the five brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $19.50.

Separately, Northland Securities set a $23.00 price target on shares of Serve Robotics in a report on Tuesday, February 18th.

Serve Robotics Stock Up 1.2 %

Serve Robotics stock opened at $7.01 on Tuesday. The stock has a market capitalization of $399.00 million and a PE ratio of -5.84. Serve Robotics has a twelve month low of $1.77 and a twelve month high of $24.35. The company has a 50 day moving average of $13.34 and a 200-day moving average of $11.53.

Insider Buying and Selling

In related news, CEO Ali Kashani sold 3,713 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.21, for a total transaction of $34,196.73. Following the completion of the transaction, the chief executive officer now owns 3,225,852 shares in the company, valued at approximately $29,710,096.92. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 67,051 shares of company stock worth $1,207,671. 21.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC acquired a new position in Serve Robotics during the third quarter worth $26,000. Blue Trust Inc. acquired a new stake in Serve Robotics in the fourth quarter valued at $27,000. CIBC Private Wealth Group LLC acquired a new stake in Serve Robotics in the fourth quarter valued at $34,000. Bogart Wealth LLC acquired a new stake in Serve Robotics in the fourth quarter valued at $37,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics in the third quarter valued at $68,000.

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.