Brokerages Set UiPath Inc. (NYSE:PATH) Price Target at $18.06

Shares of UiPath Inc. (NYSE:PATH) have received a consensus rating of “Hold” from the eighteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Sixteen research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.06.

Several brokerages have issued reports on PATH. KeyCorp reissued a “sector weight” rating on shares of UiPath in a research report on Thursday, May 30th. BMO Capital Markets lowered their price objective on shares of UiPath from $28.00 to $14.00 and set a “market perform” rating on the stock in a research report on Monday, June 3rd. Evercore ISI lowered their price objective on shares of UiPath from $27.00 to $13.00 and set an “in-line” rating on the stock in a research report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price objective on shares of UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Bank of America reissued a “neutral” rating and set a $16.00 price objective (down from $30.00) on shares of UiPath in a research report on Thursday, May 30th.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of UiPath stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $19.79, for a total transaction of $791,600.00. Following the completion of the transaction, the chief financial officer now owns 946,848 shares in the company, valued at $18,738,121.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Advisors LLC grew its holdings in shares of UiPath by 93.5% during the first quarter. Cetera Advisors LLC now owns 19,706 shares of the healthcare company’s stock worth $447,000 after buying an additional 9,522 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of UiPath by 315.6% during the first quarter. Cetera Investment Advisers now owns 67,782 shares of the healthcare company’s stock worth $1,537,000 after buying an additional 51,472 shares in the last quarter. Strategic Wealth Partners Ltd. purchased a new stake in shares of UiPath during the first quarter worth about $641,000. Plato Investment Management Ltd grew its holdings in shares of UiPath by 1,271.0% during the first quarter. Plato Investment Management Ltd now owns 39,978 shares of the healthcare company’s stock worth $906,000 after buying an additional 37,062 shares in the last quarter. Finally, Comerica Bank grew its holdings in UiPath by 226.5% in the first quarter. Comerica Bank now owns 25,154 shares of the healthcare company’s stock valued at $570,000 after purchasing an additional 17,451 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

UiPath Trading Up 3.8 %

Shares of PATH opened at $12.68 on Friday. The firm’s fifty day simple moving average is $16.30 and its 200-day simple moving average is $20.89. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of -79.25 and a beta of 0.85. UiPath has a twelve month low of $11.07 and a twelve month high of $27.87.

UiPath (NYSE:PATH) last posted its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $335.11 million for the quarter, compared to the consensus estimate of $332.84 million. UiPath had a negative net margin of 6.41% and a negative return on equity of 2.97%. On average, analysts predict that UiPath will post -0.2 earnings per share for the current fiscal year.

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.