UiPath (NYSE:PATH) Stock Rating Reaffirmed by Morgan Stanley

UiPath (NYSE:PATH)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Morgan Stanley in a report released on Friday, Benzinga reports. They presently have a $15.00 target price on the healthcare company’s stock. Morgan Stanley’s price target suggests a potential upside of 25.31% from the stock’s previous close.

A number of other analysts also recently commented on PATH. KeyCorp reissued a “sector weight” rating on shares of UiPath 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 for the company in a research note on Wednesday, May 29th. Bank of America boosted their target price on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price target on UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Evercore ISI lifted their price target on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday. Sixteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.71.

UiPath Trading Down 6.0 %

Shares of PATH stock opened at $11.97 on Friday. The stock has a 50 day simple moving average of $12.20 and a 200-day simple moving average of $16.66. The company has a market cap of $6.86 billion, a price-to-earnings ratio of -74.81 and a beta of 0.87. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm 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 2.97% and a negative net margin of 6.41%. UiPath’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) earnings per share. On average, equities analysts forecast that UiPath will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in UiPath in the fourth quarter valued at $165,749,000. Pacer Advisors Inc. purchased a new stake in UiPath in the 2nd quarter valued at about $69,180,000. Vanguard Group Inc. increased its stake in shares of UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after acquiring an additional 2,133,078 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of UiPath during the 4th quarter worth about $48,267,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of UiPath in the second quarter worth approximately $13,280,000. 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.