Serve Robotics stock rating reiterated as Overweight by Cantor Fitzgerald

Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $17.00 price target on Serve Robotics (NASDAQ:SERV), citing the company’s progress in robot deployment. The target represents a 62% upside from the current price of $10.47, though InvestingPro data shows the stock has fallen 2.15% over the past week amid its typically high volatility.

The firm highlighted that Serve Robotics deployed approximately 500 robots in the third quarter and reaffirmed its plan to deploy around 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.

Cantor Fitzgerald expressed encouragement regarding Serve’s implied fiscal year 2026 outlook and the company’s reaffirmation of its annualized revenue run-rate of $60-$80 million, which should translate to a tenfold revenue growth for next year. InvestingPro data confirms analysts anticipate 106% revenue growth for the current fiscal year, though the company is not expected to be profitable. Serve maintains a strong financial position with a current ratio of 17.21, indicating substantial liquidity to fund its expansion.

The research firm noted that Serve Robotics continues to benefit from compelling unit economics, significant partnerships for scale and expansion, and multiple applications that increase its total addressable market. Key partnerships include UberEats, DoorDash, and Nvidia (NASDAQ:NVDA).

Serve continues to leverage its partnership with Uber Eats, with Uber (NYSE:UBER) being both the company’s largest customer and one of its largest investors, in addition to its recent multi-year partnership with DoorDash.

In other recent news, Serve Robotics Inc. reported a substantial increase in revenue for the third quarter of 2025, achieving a 210% year-over-year growth. Despite this impressive revenue performance, the company’s earnings per share (EPS) did not meet analysts’ expectations. This mixed result led to varied reactions from the market. Analysts have been closely monitoring these developments, though no specific upgrade or downgrade was noted from major firms at this time. The revenue growth highlights Serve Robotics’ expanding market presence, even as the company navigates challenges in meeting earnings projections. Investors are keeping a close eye on how Serve Robotics will address these discrepancies between revenue and earnings. The company’s performance continues to be a topic of interest among financial analysts. These recent developments are shaping investor sentiment and future expectations.

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