Serve Robotics (SERV) to Release Earnings on Thursday

Serve Robotics (NASDAQ:SERV - Get Free Report) is anticipated to issue its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter.

Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $0.22 million for the quarter, compared to the consensus estimate 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 Price Performance

Shares of SERV traded up $0.31 during trading hours on Thursday, reaching $16.42. The company's stock had a trading volume of 3,563,477 shares, compared to its average volume of 12,598,520. The company has a 50 day moving average of $14.42 and a two-hundred day moving average of $11.24. Serve Robotics has a 1-year low of $1.77 and a 1-year high of $24.35.

Insider Activity

In other news, Director James Buckly Jordan sold 64,408 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.57, for a total value of $551,976.56. Following the sale, the director now owns 449,052 shares of the company's stock, valued at approximately $3,848,375.64. This represents a 12.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ali Kashani sold 2,500 shares of Serve Robotics stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $13.52, for a total transaction of $33,800.00. Following the transaction, the chief executive officer now directly owns 3,344,498 shares of the company's stock, valued at $45,217,612.96. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 253,027 shares of company stock worth $3,309,166. Company insiders own 21.40% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SERV. Northland Securities boosted their target price on Serve Robotics from $16.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a "buy" rating and a $16.00 target price on the stock. Northland Capmk upgraded shares of Serve Robotics to a "strong-buy" rating in a report on Friday, October 18th. Finally, Seaport Res Ptn upgraded Serve Robotics to a "strong-buy" rating in a research note on Monday, October 7th. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently 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.