Royal Bank of Canada Reiterates “Sector Perform” Rating for UiPath (NYSE:PATH)

UiPath (NYSE:PATH)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They presently have a $16.00 target price on the healthcare company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 33.67% from the company’s current price.

PATH has been the subject of a number of other research reports. Mizuho lowered their target price on UiPath from $25.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Scotiabank dropped their price objective on UiPath from $30.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 29th. Evercore ISI boosted their target price on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a report on Friday. BMO Capital Markets lifted their price objective on shares of UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price on shares of UiPath in a research report on Friday. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.71.

UiPath Stock Performance

Shares of NYSE:PATH opened at $11.97 on Friday. The firm has a market cap of $6.86 billion, a PE ratio of -74.81 and a beta of 0.87. The firm’s 50 day simple moving average is $12.20 and its 200-day simple moving average is $16.66. UiPath has a one year low of $10.37 and a one year high of $27.87.

UiPath (NYSE:PATH) last issued its 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 return on equity of 2.97% and a negative net margin of 6.41%. The business had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. During the same period in the previous year, the company posted ($0.09) EPS. UiPath’s revenue was up 10.0% on a year-over-year basis. Equities research analysts predict that UiPath will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC purchased a new position in shares of UiPath during the 4th quarter valued at about $25,000. ORG Partners LLC boosted its stake in shares of UiPath by 875.6% in the first quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock worth $27,000 after buying an additional 1,112 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in UiPath during the second quarter worth about $28,000. Redwood Wealth Management Group LLC purchased a new position in UiPath during the second quarter valued at approximately $43,000. Finally, Lindbrook Capital LLC lifted its holdings in UiPath by 46.0% in the first quarter. Lindbrook Capital LLC now owns 2,027 shares of the healthcare company’s stock valued at $46,000 after acquiring an additional 639 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.