Scotiabank Raises UiPath (NYSE:PATH) Price Target to $13.00

UiPath (NYSE:PATH) had its price objective raised by stock analysts at Scotiabank from $12.00 to $13.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential downside of 2.11% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets decreased their price target on UiPath from $16.00 to $11.50 and set a “market perform” rating on the stock in a research note on Friday, March 14th. Mizuho dropped their price target on UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $13.00 price target on shares of UiPath in a research note on Wednesday, March 26th. Evercore ISI lowered their price objective on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, March 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of UiPath in a research report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, UiPath presently has a consensus rating of “Hold” and a consensus target price of $13.41.

UiPath Stock Up 2.6%

PATH opened at $13.28 on Friday. UiPath has a 52 week low of $9.38 and a 52 week high of $15.93. The business has a 50 day moving average price of $11.53 and a two-hundred day moving average price of $12.69. The company has a market cap of $7.32 billion, a PE ratio of -83.00 and a beta of 1.01.

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

Insider Buying and Selling

In other news, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the sale, the chief financial officer now directly owns 987,322 shares of the company’s stock, valued at approximately $11,857,737.22. This trade represents a 9.10% 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

A number of institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 shares during the period. Versant Capital Management Inc boosted its stake in shares of UiPath by 198.6% in the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock valued at $31,000 after purchasing an additional 1,970 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after purchasing an additional 1,742 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.