Northland Capital Markets Rates Serve Robotics as a Strong Buy
Analysts Predict Significant Growth for Serve Robotics
On October 18, 2024, Northland Capital Markets began coverage of Serve Robotics (NasdaqCM:SERV) with an Outperform recommendation.
Price Target Indicates Substantial Upside Potential
As of September 25, 2024, the average one-year price target for Serve Robotics stands at $16.32 per share. This forecast varies, with estimates ranging from a low of $16.16 to a high of $16.80. Notably, the average price target indicates a potential increase of 74.36% from its most recent closing price of $9.36 per share.
For a broader perspective, take a look at our leaderboard featuring companies with the highest price target upside.
Annual EPS Forecast Remains Negative
The projected annual non-GAAP earnings per share (EPS) is -0.88.
Growing Institutional Interest in Serve Robotics
Currently, 28 funds or institutions have reported stakes in Serve Robotics, marking a significant increase of 24 new owners or 600.00% in just the last quarter. The average portfolio weight dedicated to SERV across all funds is 0.12%, which reflects a remarkable rise of 27,428.23%. Over the past three months, the total shares owned by institutions surged by 432,927.10%, reaching 8,661K shares. 
The current put/call ratio for SERV is 0.81, suggesting a positive market outlook.
Nvidia represents a significant stakeholder, holding 3,727K shares, which accounts for 8.69% of the company. AWM Investment possesses 1,818K shares, or 4.24%. Other notable shareholders include Alyeska Investment Group with 925K shares (2.16% ownership), Polar Asset Management Partners with 542K shares (1.26%), and MYDA Advisors with 478K shares (1.11% ownership).
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
