Serve Robotics has made a recent acquisition that will expand its platform into a large new market, potentially increasing its addressable market for analysts to consider. The humanoid robot market is projected to grow at an annual rate of nearly 40% through 2030.

Serve Robotics, listed on NASDAQ as SERV, has deployed over 2,000 delivery robots across various U.S. markets, including Los Angeles, Atlanta, and Dallas. The company is expanding beyond sidewalk delivery robots, with plans to move into indoor settings as well.

Serve Robotics was originally a spinoff of Uber Technologies’ robotics division and aims to revolutionize last-mile delivery with sidewalk-navigating robots. Through a recent acquisition, the company is entering indoor environments, starting with the healthcare industry with the purchase of Diligent Robotics.

Analysts, while few in number, have a positive consensus on Serve Robotics. The company’s stock is considered a top pick by Northland Capital Market’s Michael Latimore, who has set a price target of $26 per share.

Investors may be underestimating Serve Robotics’ potential, especially with the global humanoid robot market projected to grow significantly by 2030. Serve’s recent acquisition of Diligent Robotics could further expand its market presence and impact in various industries. 1. The unemployment rate in the United States has dropped to 4.2% in November, the lowest it has been since 1969. This comes as a result of strong job growth in various sectors, with 210,000 jobs added last month.

2. The FDA has approved a new drug for the treatment of Alzheimer’s disease, which affects over 6 million Americans. The drug, called Aduhelm, has shown promising results in clinical trials and is the first of its kind to receive approval in nearly two decades.

3. In international news, tensions between Russia and Ukraine have escalated, with Russia amassing troops along the border. Ukraine has called for help from NATO, expressing concerns over a potential invasion. The situation remains volatile as diplomatic efforts are underway to defuse the crisis.

Read more at Nasdaq: 1 Artificial Intelligence (AI) Stock Wall Street Thinks Investors Are Still Underestimating