Serve Robotics (SERV) a “Great Buying Opportunity” after Recent Sell-off, says Top Northland Securities Analyst

Northland Securities analyst Michael Latimore reiterated a Buy rating on Serve Robotics (SERV) stock. The bullish rating comes despite Nvidia’s (NVDA) recent sale of its pre-IPO stake in SERV, which caused a 48% drop in Serve Robotics’ share price. Importantly, the five-star analyst called this recent sell-off a “great buying opportunity” for SERV stock.  

SERV is a robotics company that develops autonomous delivery robots for making food and package deliveries.

Here’s Why Latimore Is Bullish on SERV Stock

Latimore is impressed by Serve Robotics’ plans to launch 2,000 autonomous mobile robots in 2025, with a projected annual revenue run rate of $60 million to $80 million. He believes that with this strategic move will position the company to have the “largest fleet of autonomous mobile robots globally.”

Further, the analyst noted the strong partnership between Serve and Nvidia, citing Serve’s use of NVDA’s Jetson Orin processor in its robots. Latimore thinks that Nvidia’s recent sale of its investment in Serve is “meaningless” compared to Serve’s prospects.

Overall, Latimore noted that Serve Robotics’ efforts to expand its fleet and the partnership with Nvidia, signal a promising future for the company in the autonomous robotics market.

Is SERV a Good Stock to Buy?

On TipRanks, SERV stock has a Moderate Buy consensus rating based on a single Buy rating assigned by Latimore in the past three months. It is worth noting that Latimoremaintained his price target of $23 on SERV stock, which implies a stellar 94.59% upside potential from current levels. Shares of the company have gained 37.3% over the past three months.

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