UiPath (NYSE:PATH) PT Raised to $18.00

UiPath (NYSE:PATH) had its price objective increased by analysts at Bank of America from $16.00 to $18.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the healthcare company’s stock. Bank of America‘s price objective indicates a potential upside of 50.38% from the company’s current price.

PATH has been the subject of several other reports. William Blair lowered UiPath from an “outperform” rating to a “market perform” rating in a report on Thursday, May 30th. Scotiabank decreased their target price on UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 29th. JPMorgan Chase & Co. cut their price target on shares of UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Wells Fargo & Company decreased their price objective on shares of UiPath from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Finally, TD Cowen reiterated a “hold” rating and issued a $17.00 target price (down from $28.00) on shares of UiPath in a research note on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, UiPath currently has a consensus rating of “Hold” and an average price target of $17.71.

UiPath Trading Down 6.0 %

Shares of NYSE:PATH opened at $11.97 on Friday. The stock has a market cap of $6.86 billion, a PE ratio of -74.81 and a beta of 0.87. The stock’s fifty day simple moving average is $12.20 and its two-hundred day simple moving average is $16.66. UiPath has a 1-year low of $10.37 and a 1-year high of $27.87.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative net margin of 6.41% and a negative return on equity of 2.97%. The company had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. During the same period last year, the firm earned ($0.09) earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that UiPath will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On UiPath

Several hedge funds and other institutional investors have recently modified their holdings of PATH. Russell Investments Group Ltd. grew its stake in UiPath by 23.7% during the fourth quarter. Russell Investments Group Ltd. now owns 38,584 shares of the healthcare company’s stock valued at $958,000 after acquiring an additional 7,382 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of UiPath in the fourth quarter worth $282,000. Victory Capital Management Inc. raised its position in shares of UiPath by 64.3% in the fourth quarter. Victory Capital Management Inc. now owns 74,351 shares of the healthcare company’s stock worth $1,847,000 after buying an additional 29,111 shares in the last quarter. Amalgamated Bank boosted its stake in UiPath by 8.3% during the fourth quarter. Amalgamated Bank now owns 82,148 shares of the healthcare company’s stock valued at $2,041,000 after buying an additional 6,303 shares during the period. Finally, M&T Bank Corp boosted its stake in UiPath by 35.8% during the fourth quarter. M&T Bank Corp now owns 20,861 shares of the healthcare company’s stock valued at $519,000 after buying an additional 5,495 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.