UiPath (NYSE:PATH) Stock Price Up 7.4% – Here’s What Happened

UiPath, Inc. (NYSE:PATHGet Free Report)’s share price rose 7.4% on Friday . The stock traded as high as $10.29 and last traded at $10.3850. Approximately 24,878,586 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 30,700,889 shares. The stock had previously closed at $9.67.

Key Stories Impacting UiPath

Here are the key news stories impacting UiPath this week:

Analyst Upgrades and Downgrades

PATH has been the subject of several research analyst reports. TD Cowen cut their price objective on UiPath from $16.00 to $13.00 and set a “hold” rating for the company in a report on Thursday, March 12th. Zacks Research lowered UiPath from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Canaccord Genuity Group cut their price objective on UiPath from $19.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Wells Fargo & Company cut their price objective on UiPath from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of UiPath in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, UiPath presently has an average rating of “Hold” and an average target price of $14.07.

View Our Latest Stock Analysis on PATH

UiPath Price Performance

The firm has a market capitalization of $5.39 billion, a PE ratio of 19.78, a P/E/G ratio of 1.68 and a beta of 0.91. The firm has a fifty day moving average price of $10.90 and a 200 day moving average price of $13.22.

UiPath (NYSE:PATHGet Free Report) last announced its earnings results on Wednesday, March 11th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. UiPath had a return on equity of 5.69% and a net margin of 17.53%.The business had revenue of $481.11 million during the quarter, compared to the consensus estimate of $464.81 million. During the same period in the prior year, the business posted $0.26 earnings per share. UiPath’s revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that UiPath, Inc. will post 0.32 EPS for the current year.

Institutional Investors Weigh In On UiPath

Hedge funds have recently modified their holdings of the stock. Noble Wealth Management PBC purchased a new stake in shares of UiPath during the fourth quarter valued at $25,000. HighMark Wealth Management LLC purchased a new stake in shares of UiPath during the fourth quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of UiPath during the fourth quarter valued at $26,000. TD Waterhouse Canada Inc. lifted its holdings in shares of UiPath by 1,270.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company’s stock valued at $29,000 after purchasing an additional 1,652 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of UiPath during the fourth quarter valued at $37,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

About UiPath

(Get Free Report)

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.

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