Brokerages Set UiPath Inc. (NYSE:PATH) Target Price at $17.47

Shares of UiPath Inc. (NYSE:PATH) have been given an average recommendation of “Hold” by the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $17.47.

A number of equities analysts recently issued reports on PATH shares. Wells Fargo & Company cut their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, September 6th. Finally, Bank of America boosted their price objective on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th.

UiPath Stock Performance

UiPath stock opened at $12.57 on Friday. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -62.85 and a beta of 0.88. UiPath has a 52-week low of $10.37 and a 52-week high of $27.87. The stock’s 50 day moving average price is $12.54 and its two-hundred day moving average price is $13.86.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $316.00 million during 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 business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted ($0.09) earnings per share. On average, equities research analysts forecast that UiPath will post -0.23 EPS for the current year.

Insider Activity

In related news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction that occurred on Friday, September 13th. The shares were 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 of the company’s stock, valued at approximately $10,258,498.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 22.37% of the company’s stock.

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. Cowa LLC grew its stake in UiPath by 4.4% in the 3rd quarter. Cowa LLC now owns 26,681 shares of the healthcare company’s stock valued at $342,000 after buying an additional 1,118 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of UiPath in the third quarter valued at $65,000. Principal Financial Group Inc. raised its stake in shares of UiPath by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the healthcare company’s stock valued at $470,000 after purchasing an additional 3,477 shares during the period. Amalgamated Bank lifted its holdings in UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the healthcare company’s stock worth $350,000 after purchasing an additional 1,811 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in UiPath by 17.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 104,608 shares of the healthcare company’s stock worth $1,339,000 after purchasing an additional 15,698 shares during the period. 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.