UiPath (NYSE:PATH) Earns “Sector Perform” Rating from Royal Bank of Canada

UiPath (NYSE:PATH)‘s stock had its “sector perform” rating restated by research analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $16.00 price objective on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.04% from the stock’s previous close.

A number of other research firms also recently weighed in on PATH. Wells Fargo & Company decreased their price objective on UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research report on Friday. Evercore ISI increased their price objective on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Bank of America boosted their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, DA Davidson increased their target price on shares of UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UiPath has a consensus rating of “Hold” and an average price target of $17.71.

UiPath Price Performance

PATH opened at $14.81 on Friday. The company has a market capitalization of $8.14 billion, a P/E ratio of -92.56 and a beta of 0.94. The firm’s fifty day moving average price is $13.10 and its two-hundred day moving average price is $12.83. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share for the quarter, beating 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 business had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. During the same period in the previous year, the business earned ($0.09) EPS. The firm’s revenue was up 10.0% on a year-over-year basis. On average, equities research analysts expect that UiPath will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were 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 in the company, valued at $10,258,498.19. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Several institutional investors and hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC acquired a new stake in shares of UiPath during the third quarter worth $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of UiPath during the 3rd quarter worth about $26,000. Hantz Financial Services Inc. acquired a new position in shares of UiPath during the 2nd quarter worth about $28,000. Quarry LP increased its stake in shares of UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares during the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of UiPath in the 2nd quarter valued at approximately $43,000. 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.