UiPath, Inc. (NYSE:PATH) Stock Has Average Price Target of $16.06 According to Brokerages

Shares of UiPath, Inc. (NYSE:PATH) have been assigned an average recommendation of “Hold” from the twenty-one brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $15.69.

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group cut their target price on shares of UiPath from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, September 24th. Oppenheimer reiterated a “market perform” rating on shares of UiPath in a report on Friday, September 4th. New Street Research set a $15.00 price target on shares of UiPath in a research report on Thursday, September 24th. Truist Financial cut their price target on shares of UiPath from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. Finally, TD Cowen restated a “hold” rating and issued a $16.00 price objective on shares of UiPath in a research report on Wednesday, September 23rd.

UiPath Trading Down 1.5%

NYSE PATH opened at $13.11 on Friday. The firm has a market cap of $6.83 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. UiPath has a 1-year low of $9.20 and a 1-year high of $19.84. The stock has a 50-day moving average of $14.69 and a 200-day moving average of $12.27.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. UiPath had a return on equity of 9.70% and a net margin of 21.03%.The business had revenue of $410.26 million for the quarter, compared to analyst estimates of $397.77 million. During the same period last year, the company earned $0.15 EPS. UiPath’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that UiPath will post 0.49 earnings per share for the current fiscal year.

Insider Activity at UiPath

In other UiPath news, COO Ashim Gupta sold 117,339 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $13.85, for a total value of $1,625,145.15. Following the completion of the sale, the chief operating officer owned 2,037,377 shares in the company, valued at approximately $28,217,671.45. This trade represents a 5.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Dines sold 1,402,347 shares of UiPath stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $16.07, for a total value of $22,535,716.29. Following the completion of the sale, the chief executive officer owned 26,491,238 shares in the company, valued at approximately $425,714,194.66. This represents a 5.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,560,150 shares of company stock worth $24,727,357 in the last 90 days. Company insiders own 22.44% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in UiPath by 7.2% in the second quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock valued at $501,684,000 after acquiring an additional 3,097,822 shares in the last quarter. State Street Corp raised its holdings in UiPath by 3.6% in the 2nd quarter. State Street Corp now owns 13,832,188 shares of the company’s stock worth $150,356,000 after purchasing an additional 486,007 shares in the last quarter. Geode Capital Management LLC raised its holdings in UiPath by 25.6% in the 4th quarter. Geode Capital Management LLC now owns 7,499,989 shares of the company’s stock worth $122,951,000 after purchasing an additional 1,528,454 shares in the last quarter. Norges Bank purchased a new stake in shares of UiPath in the 4th quarter worth about $120,176,000. Finally, Bank of America Corp DE lifted its position in shares of UiPath by 13.2% in the 1st quarter. Bank of America Corp DE now owns 10,046,699 shares of the company’s stock worth $111,518,000 after purchasing an additional 1,170,285 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

About UiPath

UiPath, Inc is a software company that develops an enterprise automation platform designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation, artificial intelligence, workflow orchestration, process mining, document processing and application integration tools to support automation across departments and business systems.

UiPath offers products and services for discovering automation opportunities, building and managing software robots, processing documents and other unstructured data, and governing automation programs at scale.