Brokerages Set UiPath Inc. (NYSE:PATH) Target Price at $13.83

UiPath Inc. (NYSE:PATH) has been given an average recommendation of “Hold” by the sixteen analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.83.

A number of research analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of UiPath in a report on Friday, May 30th. Scotiabank increased their target price on shares of UiPath from $12.00 to $13.00 and gave the stock a “sector perform” rating in a report on Friday, May 30th. BMO Capital Markets increased their target price on shares of UiPath from $11.50 to $15.50 and gave the stock a “market perform” rating in a report on Friday, May 30th. Royal Bank of Canada increased their target price on shares of UiPath from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Friday, May 30th. Finally, DA Davidson upgraded shares of UiPath to a “hold” rating in a report on Monday, June 9th.

UiPath Stock Down 3.3%

UiPath stock opened at $12.24 on Friday. UiPath has a 52-week low of $9.38 and a 52-week high of $15.93. The company has a market cap of $6.75 billion, a P/E ratio of -76.51 and a beta of 1.06. The business has a 50-day simple moving average of $12.03 and a two-hundred day simple moving average of $12.65.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $356.62 million for the quarter, compared to analysts’ expectations of $332.17 million. UiPath had a negative return on equity of 4.14% and a negative net margin of 6.49%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. Research analysts anticipate that UiPath will post -0.17 EPS for the current fiscal year.

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.01, for a total value of $1,186,527.95. Following the transaction, the chief financial officer now owns 987,322 shares in the company, valued at approximately $11,857,737.22. The trade was a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 that occurred on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total transaction of $127,375.00. Following the sale, the chief accounting officer now directly owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.19% of the company’s stock.

Institutional Investors Weigh In On UiPath

Large investors have recently added to or reduced their stakes in the stock. Jackson Creek Investment Advisors LLC acquired a new position in UiPath during the 4th quarter valued at approximately $298,000. ING Groep NV purchased a new position in shares of UiPath in the fourth quarter worth about $3,120,000. Savant Capital LLC increased its position in UiPath by 483.1% during the fourth quarter. Savant Capital LLC now owns 225,906 shares of the company’s stock worth $2,871,000 after purchasing an additional 187,161 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of UiPath by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company’s stock valued at $30,984,000 after acquiring an additional 66,100 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its stake in UiPath by 27.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 353,993 shares of the company’s stock worth $4,499,000 after acquiring an additional 76,647 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.