UiPath (NYSE:PATH) Price Target Raised to $18.00

UiPath (NYSE:PATH) had its price target raised by JPMorgan Chase & Co. from $17.00 to $18.00 in a research report sent to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

PATH has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Friday. TD Cowen cut their price target on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of UiPath in a research report on Friday, September 6th. Evercore ISI boosted their price objective on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company cut their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.71.

UiPath Price Performance

Shares of NYSE:PATH opened at $14.81 on Friday. The firm has a market capitalization of $8.14 billion, a PE ratio of -92.56 and a beta of 0.94. UiPath has a 1 year low of $10.37 and a 1 year high of $27.87. The firm’s 50-day moving average is $13.10 and its two-hundred day moving average is $12.73.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $303.69 million. During the same period in the prior year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts expect that UiPath will post -0.23 EPS for the current fiscal year.

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares in the company, valued at $10,258,498.19. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 22.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UiPath

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Senvest Management LLC increased its holdings in shares of UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the period. Geode Capital Management LLC boosted its stake in UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after purchasing an additional 493,502 shares during the period. Pacer Advisors Inc. purchased a new position in UiPath during the 2nd quarter worth $69,180,000. Jacobs Levy Equity Management Inc. increased its stake in UiPath by 554.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after purchasing an additional 3,411,562 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of UiPath by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after buying an additional 291,171 shares during the last quarter. 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.