UiPath (NYSE:PATH) PT Lowered to $13.00 at Wells Fargo & Company

UiPath (NYSE:PATH) had its price objective cut by Wells Fargo & Company from $15.00 to $13.00 in a report released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the healthcare company’s stock.

Several other equities research analysts have also recently issued reports on PATH. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Wednesday. TD Cowen reduced their price objective on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Evercore ISI increased their target price on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, September 6th. Finally, Barclays increased their price objective on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.47.

UiPath Trading Down 1.1 %

Shares of PATH opened at $12.34 on Wednesday. The business’s 50 day moving average is $12.50 and its 200 day moving average is $14.15. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87. The company has a market capitalization of $6.79 billion, a PE ratio of -61.70 and a beta of 0.88.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) earnings per share. Equities research analysts predict that UiPath will post -0.23 earnings per share for the current year.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares in the company, valued at $10,258,498.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently added to or reduced their stakes in the stock. Global Financial Private Client LLC boosted its holdings in shares of UiPath by 9.3% in the first quarter. Global Financial Private Client LLC now owns 6,471 shares of the healthcare company’s stock valued at $144,000 after purchasing an additional 551 shares during the period. Principal Financial Group Inc. raised its position in UiPath by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 36,772 shares of the healthcare company’s stock valued at $834,000 after purchasing an additional 622 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of UiPath by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,037 shares of the healthcare company’s stock worth $69,000 after buying an additional 787 shares during the period. Empowered Funds LLC increased its stake in shares of UiPath by 10.5% during the first quarter. Empowered Funds LLC now owns 10,856 shares of the healthcare company’s stock valued at $246,000 after buying an additional 1,033 shares during the period. Finally, ORG Partners LLC raised its holdings in shares of UiPath by 875.6% in the first quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock valued at $27,000 after acquiring an additional 1,112 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

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.