UiPath (NYSE:PATH) Price Target Raised to $18.00

UiPath (NYSE:PATH) had its price target increased by JPMorgan Chase & Co. from $17.00 to $18.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Friday. Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price objective on shares of UiPath in a research note on Friday, September 6th. TD Cowen decreased their target price on UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Finally, BMO Capital Markets lifted their target price on UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.71.

UiPath Trading Down 0.9 %

Shares of PATH opened at $14.81 on Friday. The stock’s 50-day moving average price is $13.10 and its two-hundred day moving average price is $12.83. UiPath has a 12 month low of $10.37 and a 12 month high of $27.87. The company has a market capitalization of $8.14 billion, a PE ratio of -92.56 and a beta of 0.94.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) earnings per share. Equities research analysts predict that UiPath will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new position in shares of UiPath during the third quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd purchased a new position in UiPath during the 3rd quarter worth $26,000. Hantz Financial Services Inc. bought a new stake in shares of UiPath in the 2nd quarter worth $28,000. Quarry LP raised its holdings in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares during the last quarter. Finally, Redwood Wealth Management Group LLC bought a new position in shares of UiPath during the second quarter valued at about $43,000. 62.50% of the stock is owned by institutional investors.

About UiPath

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.