Royal Bank of Canada Issues Pessimistic Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its target price decreased by analysts at Royal Bank of Canada from $16.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 19.88% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Scotiabank cut their price target on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday. Evercore ISI lowered their price objective on UiPath from $16.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday. Morgan Stanley lowered their price objective on UiPath from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday. Bank of America reissued an “underperform” rating and set a $10.00 price objective (down previously from $18.00) on shares of UiPath in a report on Thursday. Finally, UBS Group lowered their price objective on UiPath from $14.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.53.

UiPath Price Performance

PATH opened at $10.84 on Thursday. UiPath has a fifty-two week low of $9.50 and a fifty-two week high of $23.97. The business has a 50-day moving average of $13.36 and a 200-day moving average of $13.15. The company has a market capitalization of $5.96 billion, a PE ratio of -67.78 and a beta of 1.00.

Insider Buying and Selling

In related news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the 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 transaction, the chief financial officer now directly owns 856,538 shares of the company’s stock, valued at $11,186,386.28. This trade represents a 5.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is owned by insiders.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its holdings in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after acquiring an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. lifted its stake 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 purchasing an additional 804 shares during the period. EverSource Wealth Advisors LLC increased its position in UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after buying an additional 1,742 shares in the last quarter. V Square Quantitative Management LLC increased its position in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares in the last quarter. Finally, Quarry LP increased its position in 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 buying an additional 2,729 shares in the last quarter. 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.