UiPath’s (PATH) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of UiPath (NYSE:PATH) in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $16.00 price target on the healthcare company’s stock.

A number of other brokerages have also recently issued reports on PATH. William Blair cut UiPath from an outperform rating to a market perform rating in a report on Thursday, May 30th. Mizuho lowered their price target on UiPath from $25.00 to $14.00 and set a neutral rating for the company in a research report on Thursday, May 30th. Barclays lowered their price target on UiPath from $16.00 to $14.00 and set an equal weight rating for the company in a research report on Monday, August 19th. Morgan Stanley reissued an equal weight rating and issued a $15.00 price target on shares of UiPath in a research report on Friday. Finally, Wells Fargo & Company increased their price target on UiPath from $14.00 to $15.00 and gave the company an equal weight rating in a research report on Friday. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, UiPath currently has an average rating of Hold and an average target price of $17.71.

UiPath Stock Up 1.8 %

Shares of PATH opened at $12.19 on Friday. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87. The business’s fifty day moving average is $12.19 and its 200 day moving average is $16.54. The stock has a market cap of $6.98 billion, a P/E ratio of -76.19 and a beta of 0.87.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative return on equity of 3.89% and a negative net margin of 8.13%. The company had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. During the same period last year, the business earned ($0.09) EPS. UiPath’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts expect that UiPath will post -0.22 EPS for the current year.

Institutional Investors Weigh In On UiPath

Several large investors have recently added to or reduced their stakes in PATH. Norges Bank purchased a new stake in UiPath in the 4th quarter worth about $165,749,000. Pacer Advisors Inc. purchased a new stake in UiPath in the 2nd quarter worth about $69,180,000. Vanguard Group Inc. boosted its stake in UiPath by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after purchasing an additional 2,133,078 shares during the period. Artisan Partners Limited Partnership bought a new position in UiPath in the 4th quarter worth about $48,267,000. Finally, Renaissance Technologies LLC bought a new position in UiPath in the 2nd quarter worth about $13,280,000. Hedge funds and other institutional investors 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.