Serve Robotics Inc. (SERV) is experiencing a rise in its stock price today, driven by a recent upgrade from Northland Securities. The firm increased its price target for SERV from $16.00 to $23.00, maintaining an "outperform" rating. This upgrade reflects a strong vote of confidence in the company's market potential and strategic direction, particularly in its autonomous delivery solutions. The announcement has likely fueled investor optimism, contributing to the stock's upward momentum.
On Reddit, discussions are mixed, with some users expressing skepticism about SERV's long-term profitability. One user on WallStreetBets highlighted concerns about the company's financials, stating, "The company has a history of not only being unprofitable, but also having negative gross margins." Despite these concerns, others see potential in SERV's growth strategy, noting that "growth and momentum behind a stock will raise prices higher."
The current price of Serve Robotics Inc. is $19.14, up 3.52% from the previous close of $18.49. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 3,447,473 shares, representing 37.28% of the average daily volume of 9,247,686 shares, indicating strong trading activity this morning.