Evercore ISI Has Lowered Expectations for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its price target lowered by analysts at Evercore ISI from $16.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price target points to a potential upside of 10.66% from the company’s current price.

A number of other research analysts have also weighed in on PATH. Morgan Stanley reduced their price objective on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. Wells Fargo & Company dropped their price target on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of UiPath in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research report on Friday, December 6th. Finally, Barclays lowered their target price on UiPath from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.53.

UiPath Stock Performance

Shares of NYSE:PATH opened at $10.84 on Thursday. UiPath has a 52-week low of $9.50 and a 52-week high of $23.97. The firm has a market capitalization of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. The stock has a 50 day moving average price of $13.36 and a 200-day moving average price of $13.15.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the sale, the chief accounting officer now owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % 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. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at $11,186,386.28. The trade was a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by company insiders.

Institutional Trading of UiPath

Large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after purchasing an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,742 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after purchasing an additional 759 shares during the last quarter. Finally, Quarry LP boosted its holdings in UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares during the last quarter. Hedge funds and other institutional investors 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.