Serve Robotics to Report Q3 Earnings: Buy, Sell or Hold the Stock?

Serve Robotics SERV is scheduled to report its third-quarter 2024 results on Nov. 7.The Zacks Consensus Estimate for third-quarter revenues is pegged at $0.36 million.The consensus mark for earnings is pegged at a loss of 20 cents per share, which has been unchanged over the past seven days.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.Serve Robotics Inc. Price and EPS Surprise  Serve Robotics Inc. price-eps-surprise | Serve Robotics Inc. QuoteLet us see how things have shaped up before the upcoming announcement.Key Factors to Aid SERV’s Q3 ResultsSERV reported second-quarter revenues of $0.47 million, significantly better than the $0.06 million in the year-ago quarter. It saw an 80% jump in second-quarter delivery and branding revenues. Daily Supply Hours surged 28% sequentially.SERV’s expanding robotics offering is expected to improve its competitive position in the last-mile delivery space, which is currently dominated by the likes of DoorDash and Amazon.SERV’s growth potential is driven by increasing demand for last-mile delivery of food and other items through partner platforms like Uber Eats, 7-Eleven and Delivery Hero. The company signed the largest contracts in the AV industry with Uber Eats.Serve Robotics has expanded its partner base by forming strategic agreements with Magna and Ouster to accelerate the development of its new robotic products.In June 2024, SERV announced the expansion of its delivery operations into Koreatown and began onboarding new local merchants through its partnership with Uber Eats.Magna has become a contract manufacturer for SERV’s technology and the first robots are expected to roll out by the end of the fourth quarter of 2024.What Our Model Predicts for SERVAccording to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is, however, not the case here.Serve Robotics currently has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks before they are reported with our Earnings ESP Filter.Stocks to ConsiderHere are some companies, which according to our model, have the right combination of elements to beat on earnings in their upcoming releases:Yelp YELP has an Earnings ESP of +15.48% and presently flaunts a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.Yelp’s shares have lost 27.4% year to date. YELP is set to report its third-quarter 2024 results on Nov. 7.Ballard Power Systems BLDP currently has an Earnings ESP of +8.86% and a Zacks Rank of 2.BLDP’s shares have lost 53.5% year to date. Ballard Power is set to report its third-quarter results on Nov. 5.Fortinet FTNT has an Earnings ESP of +1.25% and a Zacks Rank of 2 at present.Fortinet’s shares have gained 34.7% year to date. FTNT is set to report its third-quarter results on Nov. 7.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ballard Power Systems, Inc. (BLDP): Free Stock Analysis Report Fortinet, Inc. (FTNT): Free Stock Analysis Report Yelp Inc. (YELP): Free Stock Analysis Report Serve Robotics Inc. (SERV): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks