UiPath (NYSE:PATH) Price Target Raised to $16.00

UiPath (NYSE:PATH) had its price objective lifted by Barclays from $15.00 to $16.00 in a research report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts also recently issued reports on the stock. DA Davidson upped their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. TD Cowen lowered their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a report on Friday, September 6th. Bank of America increased their price objective on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company lowered their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets raised their target price on UiPath from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, UiPath currently has an average rating of “Hold” and an average target price of $17.71.

UiPath Price Performance

Shares of PATH opened at $14.81 on Friday. The firm has a 50 day simple moving average of $13.10 and a two-hundred day simple moving average of $12.73. The company has a market cap of $8.14 billion, a P/E ratio of -92.56 and a beta of 0.94. UiPath has a one year low of $10.37 and a one year high of $27.87.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) earnings per share. On average, analysts expect that UiPath will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the completion of the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at $10,258,498.19. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Several large investors have recently made changes to their positions in the company. Senvest Management LLC grew its stake in shares of UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares during the period. Geode Capital Management LLC boosted its stake in UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after purchasing an additional 493,502 shares during the last quarter. Pacer Advisors Inc. acquired a new position in UiPath during the 2nd quarter valued at about $69,180,000. Jacobs Levy Equity Management Inc. boosted its stake in UiPath by 554.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in UiPath by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after purchasing an additional 291,171 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.