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Investing.com - Cantor Fitzgerald maintained its Overweight rating and $17.00 price target on Serve Robotics (NASDAQ:SERV) on Monday, following the company’s recent acquisition announcement. Currently trading at $12.13, the stock sits well below the consensus analyst target range of $15-23, according to InvestingPro data.
Serve Robotics announced on September 9 that it acquired Voysys AB, a Swedish company specializing in ultra-low latency video streaming, connectivity, and teleoperation technology. The acquisition aims to enhance Serve Robotics’ technology stack to support the deployment of its autonomous delivery robots. The company maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 32.79x.
The autonomous delivery company reported a total fleet of more than 400 delivery robots as of the second quarter of 2025, after deploying 120 robots during the quarter. Serve Robotics initially launched operations in Los Angeles before expanding to Miami and the Dallas-Fort Worth area.
The company has completed over 100,000 deliveries to date and increased its merchant partners to more than 2,500 as of the second quarter. Serve Robotics has established partnerships across multiple markets as it continues its expansion.
Serve Robotics plans to double its robot fleet size in the third quarter of 2025, deploying more than 700 robots, and aims to deploy approximately 2,000 robots by the end of fiscal year 2025. For deeper insights into SERV’s growth prospects and detailed financial analysis, access the comprehensive research report available on InvestingPro, which includes 12 additional ProTips and extensive financial metrics.
In other recent news, Serve Robotics has made a strategic acquisition by purchasing the assets of Phantom Auto and its subsidiary Voysys AB for approximately $5.75 million in cash. This acquisition is aimed at enhancing Serve Robotics’ delivery technology, particularly focusing on ultra-low latency video streaming and connectivity. In the realm of analyst ratings, Wedbush analyst Daniel Ives initiated coverage of Serve Robotics with an Outperform rating and a $15 price target, citing the company’s unique position in the AI-driven last-mile delivery market. Cantor Fitzgerald maintained its Overweight rating with a $17 price target, praising the company’s strategic partnerships and unit economics. However, Seaport Global Securities downgraded Serve Robotics from Buy to Neutral, noting that while second-quarter revenues met expectations, revenue growth might be more significant towards late 2026. The company has plans to expand its fleet significantly, aiming to deploy 2,000 robots by the end of 2025. These developments reflect Serve Robotics’ ongoing efforts to strengthen its position in the autonomous delivery industry.
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