UiPath (NYSE:PATH) Stock Price Expected to Rise, Morgan Stanley Analyst Says

UiPath (NYSE:PATH) had its price target upped by Morgan Stanley from $15.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 8.04% from the stock’s previous close.

PATH has been the topic of several other reports. TD Cowen reduced their price target on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Bank of America lifted their target price on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Barclays upped their price target on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Wells Fargo & Company decreased their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Friday. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.71.

UiPath Stock Performance

PATH stock opened at $14.81 on Friday. The company has a market capitalization of $8.14 billion, a PE ratio of -92.56 and a beta of 0.94. UiPath has a one year low of $10.37 and a one year high of $27.87. The company’s 50 day moving average price is $13.10 and its two-hundred day moving average price is $12.83.

UiPath (NYSE:PATH) last issued its 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 company had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. During the same quarter last year, the company earned ($0.09) EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts predict that UiPath will post -0.23 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. The trade was a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UiPath

Several large investors have recently made changes to their positions in PATH. Sanctuary Advisors LLC grew its stake in shares of UiPath by 236.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 41,098 shares of the company’s stock worth $526,000 after buying an additional 28,865 shares during the last quarter. Geode Capital Management LLC boosted its holdings in UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after acquiring an additional 493,502 shares in the last quarter. M&T Bank Corp grew its stake in shares of UiPath by 60.1% in the third quarter. M&T Bank Corp now owns 31,791 shares of the company’s stock worth $407,000 after acquiring an additional 11,940 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of UiPath by 61.9% during the third quarter. Public Employees Retirement System of Ohio now owns 240,123 shares of the company’s stock valued at $3,074,000 after acquiring an additional 91,788 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of UiPath in the 3rd quarter worth about $1,483,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.