UiPath (NYSE:PATH) Given New $12.00 Price Target at Wells Fargo & Company

UiPath (NYSE:PATHGet Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $11.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 9.64% from the company’s current price.

Several other research analysts also recently issued reports on PATH. Morgan Stanley lowered their price objective on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Scotiabank lowered their price objective on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, March 13th. Evercore ISI lowered their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday, March 13th. UBS Group lowered their price objective on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, March 13th. Finally, BMO Capital Markets lowered their price objective on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, UiPath has an average rating of “Hold” and a consensus target price of $13.41.

Read Our Latest Research Report on UiPath

UiPath Stock Up 2.6%

PATH opened at $13.28 on Friday. UiPath has a twelve month low of $9.38 and a twelve month high of $15.93. The company has a 50-day simple moving average of $11.53 and a 200 day simple moving average of $12.69. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -83.00 and a beta of 1.01.

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

Insider Activity at UiPath

In related news, CAO Hitesh Ramani sold 12,500 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 314,891 shares of the company’s stock, valued at $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ashim Gupta sold 98,795 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was 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 in the company, valued at $11,857,737.22. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is owned by corporate insiders.

Institutional Trading of UiPath

A number of hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its position in UiPath by 88.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after acquiring an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. lifted its position in UiPath by 47.8% in the 4th 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 in the last quarter. Versant Capital Management Inc lifted its position in 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 acquiring an additional 1,970 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in UiPath by 33.4% during the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares during the last quarter. 62.50% of the stock is owned by 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.

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