UiPath (NYSE:PATH – Get Free Report) has been given a $16.00 target price by investment analysts at Canaccord Genuity Group in a research note issued on Monday, MarketBeat reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 21.07% from the company’s current price.
PATH has been the topic of several other reports. Mizuho cut their target price on shares of UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley cut their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of UiPath in a research note on Friday, May 30th. DA Davidson increased their price target on UiPath from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, May 30th. Finally, Barclays restated an “equal weight” rating on shares of UiPath in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, UiPath has an average rating of “Hold” and a consensus target price of $13.83.
Get Our Latest Research Report on UiPath
UiPath Stock Down 0.3%
UiPath (NYSE:PATH – Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $356.62 million for 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 firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 EPS. As a group, equities research analysts anticipate that UiPath will post -0.17 EPS for the current year.
Insiders Place Their Bets
In related news, CAO Hitesh Ramani sold 12,500 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the transaction, the chief accounting officer now directly owns 314,891 shares of the company’s stock, valued at approximately $3,208,739.29. The trade was a 3.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the firm’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 transaction of $1,186,527.95. Following the sale, the chief financial officer now owns 987,322 shares of the company’s stock, valued at approximately $11,857,737.22. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by insiders.
Institutional Investors Weigh In On UiPath
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. Jackson Creek Investment Advisors LLC bought a new stake in shares of UiPath in the fourth quarter valued at approximately $298,000. ING Groep NV bought a new stake in UiPath during the 4th quarter valued at $3,120,000. Savant Capital LLC raised its holdings in UiPath by 483.1% during the 4th quarter. Savant Capital LLC now owns 225,906 shares of the company’s stock valued at $2,871,000 after acquiring an additional 187,161 shares during the period. Bank of New York Mellon Corp lifted its position in shares of UiPath by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,437,756 shares of the company’s stock worth $30,984,000 after acquiring an additional 66,100 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in shares of UiPath by 27.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 353,993 shares of the company’s stock worth $4,499,000 after acquiring an additional 76,647 shares during the period. 62.50% of the stock is currently owned by institutional investors.
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.
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