Overview
- Wedbush kept an Outperform rating with a $22 price target after meetings with management, pointing to a 99.8% delivery completion rate and first signs of software and data revenue in the fourth quarter.
- Cantor Fitzgerald maintained an Overweight rating and noted more than 2,000 robots now operate across about 20 U.S. cities, with the Diligent Robotics deal adding roughly 100 hospital units.
- Serve reported fourth-quarter revenue of $882,000 and a per-share loss of $0.34, topping revenue expectations but underscoring that the business remains unprofitable.
- A partnership with White Castle will use Serve’s sidewalk robots to deliver orders placed on Uber Eats, which expands the company’s reach on major delivery platforms.
- Management aims to cut the need for remote human supervisors and boost autonomy to lower costs, while some voices like Jim Cramer urge caution due to the company’s large losses.