Serve Robotics Inc. (NASDAQ:SERV) is one of the best AI stocks to buy under $20. On October 13, Northland Securities analyst Michael Latimore reiterated his Buy rating on Serve Robotics Inc. (NASDAQ:SERV) and raised the price target from $23 to $26, reflecting increased confidence in the company’s growth prospects.
Serve Robotics Inc. (SERV) Gains Analyst Confidence and Expands Reach with DoorDash Partnership
This decision comes after the company inked a deal to deploy its sidewalk robots to fulfill orders on the food delivery platform DoorDash on October 9. Customers ordering via DoorDash at select stores and restaurants around Los Angeles could have their orders delivered by a Serve robot thanks to the strategic partnership. Plans are underway to expand the service to other DoorDash deliveries across the US. The tie-up with DoorDash opens the door for Serve Robotics to increase its volume of orders available for its robots. The move should also help the company capture more customers and expand its reach beyond Uber Eats.
“This partnership enables us to go to cities where DoorDash is the dominant player. Now that we have such a significant fleet size, there’s a very sizeable supply that we can provide to companies… and we’re looking for more demand, so that every minute of every day, the robots have access to more jobs,” said Serve co-founder and CEO Ali Kashani.
Serve Robotics Inc. (NASDAQ:SERV) develops AI-powered, low-emissions robots for last-mile delivery, primarily for food and groceries. The company deploys its autonomous robots on sidewalks to complete deliveries for partners like Uber Eats and 7-Eleven, aiming to make deliveries more sustainable and economical. While we acknowledge the potential of SERV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Top 6 Steel Stocks to Buy Amid US Tariffs and 5 Most Undervalued Hong Kong Stocks to Buy According to Analysts. Disclosure: None. This article is originally published at Insider Monkey.
