JPMorgan Chase & Co. Lowers UiPath (NYSE:PATH) Price Target to $17.00

UiPath (NYSE:PATH) had its target price reduced by analysts at JPMorgan Chase & Co. from $19.00 to $17.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the healthcare company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 36.22% from the stock’s current price.

A number of other research analysts have also recently commented on PATH. DA Davidson upped their price target on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday, September 6th. Barclays lifted their target price on UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Evercore ISI increased their price target on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, UiPath currently has an average rating of “Hold” and an average target price of $17.47.

UiPath Trading Up 3.5 %

NYSE PATH opened at $12.48 on Wednesday. The stock has a fifty day simple moving average of $12.48 and a 200-day simple moving average of $14.23. UiPath has a twelve month low of $10.37 and a twelve month high of $27.87.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. UiPath’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) earnings per share. As a group, equities research analysts expect that UiPath will post -0.23 earnings per share for the current year.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the transaction, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.37% of the stock is owned by insiders.

Institutional Trading of UiPath

Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. acquired a new stake in shares of UiPath in the 2nd quarter valued at about $69,180,000. Vanguard Group Inc. lifted its stake in UiPath by 5.6% in the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after buying an additional 2,133,078 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of UiPath in the second quarter valued at approximately $13,280,000. AQR Capital Management LLC grew its position in shares of UiPath by 120.6% during the second quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock worth $20,385,000 after acquiring an additional 892,845 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock valued at $35,296,000 after acquiring an additional 754,519 shares during the period. 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.