Needham & Company LLC Reiterates “Hold” Rating for UiPath (NYSE:PATH)

UiPath (NYSE:PATH)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

Several other brokerages have also issued reports on PATH. UBS Group decreased their price objective on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, March 13th. Scotiabank decreased their price objective on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, March 13th. Mizuho decreased their price objective on UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Barclays decreased their price objective on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Morgan Stanley decreased their price objective on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.41.

UiPath Trading Up 2.6%

UiPath stock opened at $13.28 on Friday. The firm has a market capitalization of $7.32 billion, a P/E ratio of -83.00 and a beta of 1.01. UiPath has a 1 year low of $9.38 and a 1 year high of $15.93. The business has a 50-day moving average of $11.53 and a 200-day moving average of $12.69.

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

Insiders Place Their Bets

In other news, CAO Hitesh Ramani sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the sale, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. This represents a 3.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 98,795 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the sale, the chief financial officer now owns 987,322 shares in the company, valued at approximately $11,857,737.22. This represents a 9.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.19% of the company’s stock.

Institutional Investors Weigh In On UiPath

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its stake in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of UiPath by 198.6% during the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock worth $31,000 after purchasing an additional 1,970 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after purchasing an additional 804 shares in the last quarter. CX Institutional bought a new stake in shares of UiPath during the 1st quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its stake in UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after acquiring an additional 1,742 shares during the period. Institutional investors own 62.50% of the company’s stock.

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.