UiPath (NYSE:PATH) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

UiPath (NYSE:PATH) had its price target increased by BMO Capital Markets from $15.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 8.04% from the company’s current price.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research note on Friday. 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 UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note 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, September 6th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.71.

UiPath Stock Down 0.9 %

PATH opened at $14.81 on Friday. The business has a fifty day moving average of $13.10 and a 200 day moving average of $12.83. The stock has a market cap of $8.14 billion, a P/E ratio of -92.56 and a beta of 0.94. UiPath has a 52-week low of $10.37 and a 52-week high of $27.87.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. Equities analysts anticipate that UiPath will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following 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 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.37% of the stock is owned by insiders.

Institutional Investors Weigh In On UiPath

A number of institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank raised its position in UiPath by 226.5% during the 1st quarter. Comerica Bank now owns 25,154 shares of the company’s stock worth $570,000 after buying an additional 17,451 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of UiPath by 315.6% in the first quarter. Cetera Investment Advisers now owns 67,782 shares of the company’s stock worth $1,537,000 after acquiring an additional 51,472 shares during the period. Cetera Advisors LLC raised its holdings in shares of UiPath by 93.5% during the first quarter. Cetera Advisors LLC now owns 19,706 shares of the company’s stock worth $447,000 after purchasing an additional 9,522 shares during the last quarter. CWM LLC raised its holdings in shares of UiPath by 13.9% during the second quarter. CWM LLC now owns 17,877 shares of the company’s stock worth $227,000 after purchasing an additional 2,185 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in UiPath during the second quarter valued at $537,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.