UiPath (NYSE:PATH) Trading Up 2%

UiPath Inc. (NYSE:PATH) was up 2% during trading on Friday . The stock traded as high as $12.60 and last traded at $12.60. Approximately 1,960,360 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 9,916,552 shares. The stock had previously closed at $12.35.

Analysts Set New Price Targets

Several brokerages have issued reports on PATH. Canaccord Genuity Group lowered their price objective on shares of UiPath from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday, May 30th. Barclays lowered their price objective on shares of UiPath from $25.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Truist Financial restated a “hold” rating and set a $14.00 price objective (down from $32.00) on shares of UiPath in a research note on Thursday, May 30th. Finally, William Blair cut UiPath from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 30th. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $18.06.

UiPath Trading Up 2.6 %

The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of -78.75 and a beta of 0.86. The company has a fifty day moving average price of $14.98 and a 200-day moving average price of $20.02.

UiPath (NYSE:PATH) last posted its earnings results on Wednesday, May 29th. The healthcare company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The firm had revenue of $335.11 million during the quarter, compared to analyst estimates of $332.84 million. As a group, sell-side analysts predict that UiPath Inc. will post -0.2 EPS for the current fiscal year.

Insider Activity

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $19.79, for a total value of $791,600.00. Following the sale, the chief financial officer now directly owns 946,848 shares in the company, valued at $18,738,121.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UiPath

Institutional investors and hedge funds have recently bought and sold shares of the business. Strategic Advocates LLC acquired a new position in UiPath in the second quarter valued at about $147,000. Warther Private Wealth LLC increased its holdings in shares of UiPath by 83.3% in the second quarter. Warther Private Wealth LLC now owns 438,200 shares of the healthcare company’s stock worth $5,556,000 after acquiring an additional 199,200 shares in the last quarter. CWM LLC increased its holdings in shares of UiPath by 13.9% in the second quarter. CWM LLC now owns 17,877 shares of the healthcare company’s stock worth $227,000 after acquiring an additional 2,185 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of UiPath by 93.5% in the first quarter. Cetera Advisors LLC now owns 19,706 shares of the healthcare company’s stock worth $447,000 after acquiring an additional 9,522 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in UiPath by 315.6% in the 1st quarter. Cetera Investment Advisers now owns 67,782 shares of the healthcare company’s stock valued at $1,537,000 after buying an additional 51,472 shares during 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.