UiPath (NYSE:PATH) Price Target Raised to $16.00

UiPath (NYSE:PATH) had its target price lifted by BMO Capital Markets from $15.00 to $16.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other equities analysts have also issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $15.00 target price on shares of UiPath in a report on Friday, September 6th. Evercore ISI lifted their price objective on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Friday. 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. Finally, JPMorgan Chase & Co. upped their price target on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.71.

UiPath Stock Down 0.9 %

Shares of PATH stock opened at $14.81 on Friday. The business’s fifty day moving average is $13.10 and its 200 day moving average is $12.73. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of -92.56 and a beta of 0.94. UiPath has a twelve month low of $10.37 and a twelve month high of $27.87.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. During the same period last year, the business earned ($0.09) EPS. UiPath’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect that UiPath will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares in the company, valued at $10,258,498.19. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of institutional investors have recently bought and sold shares of PATH. Ontario Teachers Pension Plan Board lifted its holdings in UiPath by 136.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after purchasing an additional 62,650 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of UiPath by 60.1% during the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after purchasing an additional 209,300 shares during the period. Senvest Management LLC lifted its stake in shares of UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Quantbot Technologies LP boosted its holdings in UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after buying an additional 88,468 shares during the period. Finally, LMR Partners LLP purchased a new stake in UiPath in the 3rd quarter worth $561,000. 62.50% of the stock is 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.