Wells Fargo & Company Trims UiPath (NYSE:PATH) Target Price to $13.00

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

PATH has been the subject of a number of other research reports. Bank of America upped their price objective on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Barclays increased their price target on UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. DA Davidson boosted their price objective on UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.47.

UiPath Stock Down 1.0 %

UiPath stock opened at $12.35 on Wednesday. The business’s 50-day moving average price is $12.50 and its 200 day moving average price is $14.10. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of -61.75 and a beta of 0.88. UiPath has a 52 week low of $10.37 and a 52 week high of $27.87.

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

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at $10,258,498.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.37% of the stock is currently owned by company insiders.

Institutional Trading of UiPath

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in UiPath by 50.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,135 shares of the healthcare company’s stock worth $475,000 after acquiring an additional 6,385 shares during the period. Sunbelt Securities Inc. raised its holdings in UiPath by 7,602.5% in the 1st quarter. Sunbelt Securities Inc. now owns 18,178 shares of the healthcare company’s stock valued at $412,000 after buying an additional 17,942 shares during the period. Future Financial Wealth Managment LLC acquired a new position in UiPath in the first quarter valued at about $73,000. Wealth Enhancement Advisory Services LLC boosted its stake in UiPath by 15.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,479 shares of the healthcare company’s stock worth $691,000 after buying an additional 4,039 shares during the period. Finally, 180 Wealth Advisors LLC increased its position in shares of UiPath by 7.2% during the first quarter. 180 Wealth Advisors LLC now owns 202,637 shares of the healthcare company’s stock valued at $4,594,000 after acquiring an additional 13,687 shares during the last quarter. 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.