UiPath (NYSE:PATH) PT Lowered to $18.00

UiPath (NYSE:PATHGet Rating) had its target price reduced by equities researchers at Royal Bank of Canada from $22.00 to $18.00 in a research note issued on Wednesday, The Fly reports. Royal Bank of Canada’s target price would indicate a potential upside of 29.03% from the company’s previous close.

Other research analysts have also issued reports about the company. Truist Financial decreased their target price on UiPath from $55.00 to $45.00 in a report on Thursday, June 2nd. BMO Capital Markets decreased their target price on UiPath from $29.00 to $21.00 in a report on Thursday, June 2nd. Needham & Company LLC decreased their target price on UiPath from $40.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday. Cowen decreased their target price on UiPath from $27.00 to $20.00 in a report on Wednesday. Finally, Credit Suisse Group decreased their target price on UiPath from $45.00 to $37.50 and set an “outperform” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.97.

UiPath Trading Up 0.8 %

Shares of NYSE PATH opened at $13.95 on Wednesday. UiPath has a twelve month low of $12.21 and a twelve month high of $59.57. The stock has a fifty day simple moving average of $18.84 and a 200-day simple moving average of $21.08. The stock has a market capitalization of $7.60 billion, a PE ratio of -17.44 and a beta of 0.11.

UiPath (NYSE:PATHGet Rating) last issued its quarterly earnings data on Tuesday, September 6th. The healthcare company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The business had revenue of $242.22 million during the quarter, compared to analysts’ expectations of $230.68 million. UiPath had a negative return on equity of 19.07% and a negative net margin of 42.98%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. On average, equities analysts predict that UiPath will post -0.59 earnings per share for the current year.

Insider Activity

In related news, CFO Ashim Gupta sold 100,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $20.70, for a total value of $2,070,000.00. Following the transaction, the chief financial officer now owns 1,387,266 shares in the company, valued at approximately $28,716,406.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kimberly Hammonds sold 2,521 shares of the business’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $18.70, for a total value of $47,142.70. Following the transaction, the director now owns 100,662 shares in the company, valued at approximately $1,882,379.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 100,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $20.70, for a total value of $2,070,000.00. Following the completion of the transaction, the chief financial officer now owns 1,387,266 shares in the company, valued at approximately $28,716,406.20. The disclosure for this sale can be found here. In the last three months, insiders sold 125,321 shares of company stock valued at $2,589,103. Insiders own 31.88% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its position in UiPath by 11.9% during the 2nd quarter. ARK Investment Management LLC now owns 37,595,245 shares of the healthcare company’s stock worth $641,751,000 after purchasing an additional 3,994,297 shares during the period. Vanguard Group Inc. grew its holdings in shares of UiPath by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 24,800,243 shares of the healthcare company’s stock worth $535,437,000 after acquiring an additional 2,557,428 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of UiPath in the 2nd quarter worth approximately $436,988,000. Nikko Asset Management Americas Inc. grew its holdings in shares of UiPath by 9.0% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 22,917,064 shares of the healthcare company’s stock worth $413,195,000 after acquiring an additional 1,890,246 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of UiPath by 32.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 9,623,861 shares of the healthcare company’s stock worth $175,058,000 after acquiring an additional 2,354,365 shares during the period. Institutional investors and hedge funds own 51.35% of the company’s stock.

UiPath Company Profile

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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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.

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