Morgan Stanley Boosts UiPath (NYSE:PATH) Price Target to $15.00

UiPath (NYSE:PATH) had its price target lifted by investment analysts at Morgan Stanley from $12.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 15.03% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company reissued an “equal weight” rating on shares of UiPath in a research note on Friday. Mizuho reduced their target price on UiPath from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. UBS Group reduced their target price on UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, March 13th. Canaccord Genuity Group boosted their target price on UiPath from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays restated an “equal weight” rating on shares of UiPath in a report on Friday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.83.

UiPath Price Performance

NYSE:PATH opened at $13.04 on Monday. UiPath has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The stock’s 50-day moving average is $11.60 and its two-hundred day moving average is $12.69. The stock has a market cap of $7.19 billion, a PE ratio of -81.50 and a beta of 1.01.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $356.62 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. On average, equities research analysts anticipate that UiPath will post -0.17 earnings per share for the current year.

Insider Transactions at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of the transaction, the chief accounting officer now owns 314,891 shares in the company, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction, the chief financial officer now owns 987,322 shares of the company’s stock, 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. Corporate insiders own 23.19% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently made changes to their positions in PATH. Perigon Wealth Management LLC acquired a new position in shares of UiPath in the 4th quarter valued at $145,000. Chicago Partners Investment Group LLC acquired a new position in shares of UiPath in the 4th quarter valued at $213,000. SYM FINANCIAL Corp bought a new stake in shares of UiPath in the 4th quarter worth about $171,000. Bank Hapoalim BM grew its holdings in shares of UiPath by 14.6% in the 4th quarter. Bank Hapoalim BM now owns 84,659 shares of the company’s stock worth $1,076,000 after purchasing an additional 10,760 shares during the last quarter. Finally, Lecap Asset Management Ltd. grew its holdings in shares of UiPath by 69.7% in the 4th quarter. Lecap Asset Management Ltd. now owns 116,289 shares of the company’s stock worth $1,478,000 after purchasing an additional 47,772 shares during the last quarter. Institutional investors and hedge funds 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.