UiPath (NYSE:PATH) Price Target Raised to $14.00

UiPath (NYSE:PATH) had its target price upped by Barclays from $12.00 to $14.00 in a report issued on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

PATH has been the topic of a number of other reports. Morgan Stanley decreased their price objective on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada boosted their price target on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Friday. Evercore ISI decreased their price target on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, March 13th. Scotiabank boosted their target price on shares of UiPath from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Canaccord Genuity Group reduced their target price on shares of UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, UiPath presently has an average rating of “Hold” and a consensus price target of $13.41.

UiPath Price Performance

PATH opened at $13.28 on Friday. UiPath has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The firm’s fifty day moving average price is $11.53 and its two-hundred day moving average price is $12.69. The company has a market capitalization of $7.32 billion, a P/E ratio of -83.00 and a beta of 1.01.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $356.62 million for the quarter, compared to analyst estimates of $332.17 million. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 EPS. On average, equities research analysts expect that UiPath will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the transaction, the chief financial officer now owns 987,322 shares of the company’s stock, valued at approximately $11,857,737.22. This represents a 9.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the transaction, the chief accounting officer now directly owns 314,891 shares in the company, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their position. The disclosure for this sale can be found here. 23.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UiPath

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of UiPath by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock valued at $495,029,000 after acquiring an additional 1,396,972 shares during the period. Senvest Management LLC lifted its position in UiPath by 29.2% during the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock valued at $178,890,000 after purchasing an additional 3,180,300 shares during the period. AQR Capital Management LLC lifted its position in UiPath by 45.3% during the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock valued at $84,209,000 after purchasing an additional 2,072,089 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in UiPath by 10.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,132,003 shares of the company’s stock valued at $63,164,000 after buying an additional 602,866 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in UiPath by 479.3% in the first quarter. Federated Hermes Inc. now owns 5,720,096 shares of the company’s stock valued at $58,917,000 after buying an additional 4,732,712 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Company Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.