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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating and $17.00 price target on Serve Robotics (NASDAQ:SERV) following the company’s third-quarter earnings call. This target represents an 82% upside from the current price of $9.34, though the stock has taken a significant hit, falling 12.3% over the past week according to InvestingPro data.
Serve Robotics guided for fiscal year 2025 revenue of approximately $2.5 million, below Cantor Fitzgerald’s preliminary estimate of $3.3 million, implying fourth-quarter revenues of roughly $0.8 million. The company also projected fiscal year 2026 revenues to be "10x FY25 revenues." Despite a 38% revenue growth forecast for FY2025, InvestingPro analysis indicates the company is trading at a high revenue multiple and analysts do not expect profitability this year, with EPS forecast at -$1.03 for FY2025.
The robotics firm reported total liquidity, including cash and cash equivalents and short-term investments, of $210.4 million as of the third quarter of 2025, up from $183.3 million in the second quarter. Serve Robotics recently raised an additional approximately $100 million through a direct share offering. This strong liquidity position aligns with the InvestingPro tip that the company holds more cash than debt on its balance sheet, with a remarkably high current ratio of 17.21.
Cantor Fitzgerald expressed encouragement about Serve’s deployment of approximately 500 robots in the third quarter and management’s reaffirmation to deploy roughly 2,000 robots by "mid-December." The company has now deployed more than 1,000 robots to date, with over 380 robots deployed in September alone, marking its highest monthly deployment on record.
The investment firm highlighted Serve Robotics’ partnerships with UberEats, DoorDash, and Nvidia as advantages for scale and expansion, noting that Uber serves as both Serve’s largest customer and one of its largest investors, complemented by a recent multi-year partnership with DoorDash. Despite these strategic partnerships, InvestingPro identifies Serve as a niche player with current Fair Value suggesting the stock may be overvalued at its current price. Discover 10+ additional ProTips and comprehensive analysis in the Pro Research Report, available for over 1,400 US stocks.
In other recent news, Serve Robotics reported a remarkable 210% increase in revenue for the third quarter of 2025 compared to the same period last year. Despite this revenue surge, the company’s earnings per share did not meet analysts’ expectations. Meanwhile, Cantor Fitzgerald has reiterated an Overweight rating on Serve Robotics, maintaining a price target of $17.00. The firm cited the company’s progress in robot deployment as a key factor in its assessment. Serve Robotics deployed approximately 500 robots in the third quarter, with over 380 robots deployed in September alone. This brings the total number of robots deployed to over 1,000, with plans to reach around 2,000 by mid-December. These developments highlight the company’s ongoing efforts to expand its operational capabilities.
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