UiPath (NYSE:PATH) Given New $16.00 Price Target at TD Cowen

UiPath (NYSE:PATH) had its target price lowered by TD Cowen from $17.00 to $16.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a hold rating on the healthcare company’s stock.

A number of other equities analysts have also weighed in on the company. Bank of America upped their target price on UiPath from $16.00 to $18.00 and gave the stock a neutral rating in a research report on Friday. Royal Bank of Canada reaffirmed a sector perform rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday. Morgan Stanley reissued an equal weight rating and set a $15.00 target price on shares of UiPath in a research report on Friday. KeyCorp reaffirmed a sector weight rating on shares of UiPath in a research report on Thursday, May 30th. Finally, Mizuho decreased their price objective on UiPath from $25.00 to $14.00 and set a neutral rating for the company in a report on Thursday, May 30th. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $17.71.

UiPath Stock Down 6.0 %

UiPath stock opened at $11.98 on Friday. The company has a market capitalization of $6.86 billion, a PE ratio of -74.84 and a beta of 0.87. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87. The firm’s fifty day moving average is $12.20 and its 200 day moving average is $16.71.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 6.41% and a negative return on equity of 2.97%. The company had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The business’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts expect that UiPath will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On UiPath

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares during the last quarter. Norges Bank bought a new position in shares of UiPath during the 4th quarter valued at approximately $165,749,000. Pacer Advisors Inc. purchased a new stake in shares of UiPath during the 2nd quarter worth approximately $69,180,000. Dimensional Fund Advisors LP raised its holdings in shares of UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock worth $35,296,000 after purchasing an additional 754,519 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in UiPath by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,553,264 shares of the healthcare company’s stock valued at $63,423,000 after purchasing an additional 108,013 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.