UiPath’s (PATH) “Sector Perform” Rating Reiterated at Royal Bank of Canada

UiPath (NYSE:PATH)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $16.00 price target on the stock. Royal Bank of Canada’s target price suggests a potential upside of 8.04% from the stock’s previous close.

PATH has been the topic of a number of other reports. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI boosted their price target on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. DA Davidson upped their price objective on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. TD Cowen dropped their target price on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Bank of America upped their price target on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.71.

UiPath Price Performance

Shares of UiPath stock opened at $14.81 on Friday. The company has a market capitalization of $8.14 billion, a P/E ratio of -92.56 and a beta of 0.94. The business has a 50-day moving average of $13.10 and a two-hundred day moving average of $12.83. UiPath has a 1 year low of $10.37 and a 1 year high of $27.87.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (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 return on equity of 3.98% and a negative net margin of 8.13%. UiPath’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. On average, equities analysts anticipate that UiPath will post -0.23 EPS for the current fiscal year.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $10,258,498.19. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 22.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PATH. Future Financial Wealth Managment LLC bought a new position in UiPath during the third quarter worth $26,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of UiPath during the 3rd quarter worth about $26,000. Hantz Financial Services Inc. bought a new stake in shares of UiPath during the 2nd quarter worth about $28,000. Quarry LP grew its stake in UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares during the last quarter. Finally, Redwood Wealth Management Group LLC bought a new position in UiPath in the 2nd quarter valued at about $43,000. 62.50% of the stock is owned by institutional investors and hedge funds.

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.