UiPath (NASDAQ:PATH) PT Lowered to $23.00 at KeyCorp

UiPath (NASDAQ:PATHGet Rating) had its price objective decreased by stock analysts at KeyCorp from $34.00 to $23.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the healthcare company’s stock. KeyCorp’s price target would suggest a potential upside of 28.13% from the company’s previous close.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of UiPath from a “hold” rating to a “strong sell” rating in a report on Thursday, April 7th. Morgan Stanley reduced their price objective on shares of UiPath from $74.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, March 31st. Cowen reduced their price objective on shares of UiPath from $72.00 to $43.00 in a report on Thursday, March 31st. Needham & Company LLC reduced their price objective on shares of UiPath from $85.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, March 31st. Finally, Oppenheimer reduced their price objective on shares of UiPath from $56.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, March 31st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, UiPath currently has a consensus rating of “Hold” and a consensus target price of $48.35.

NASDAQ PATH opened at $17.95 on Monday. UiPath has a 52 week low of $17.66 and a 52 week high of $90.00. The business’s fifty day simple moving average is $27.40 and its 200-day simple moving average is $38.78. The firm has a market cap of $9.73 billion and a PE ratio of -10.88.

UiPath (NASDAQ:PATHGet Rating) last issued its quarterly earnings data on Wednesday, March 30th. The healthcare company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $289.70 million for the quarter, compared to analyst estimates of $283.25 million. UiPath had a negative net margin of 58.91% and a negative return on equity of 21.20%. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. As a group, equities research analysts expect that UiPath will post -0.46 earnings per share for the current fiscal year.

In related news, Director Rich Wong sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $37.81, for a total value of $2,835,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Hammonds sold 2,521 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $28.19, for a total value of $71,066.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,521 shares of company stock valued at $5,729,067. Corporate insiders own 28.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PATH. Nikko Asset Management Americas Inc. boosted its holdings in UiPath by 133.9% in the third quarter. Nikko Asset Management Americas Inc. now owns 14,094,071 shares of the healthcare company’s stock valued at $739,939,000 after purchasing an additional 8,069,377 shares in the last quarter. ARK Investment Management LLC boosted its holdings in UiPath by 24.9% in the first quarter. ARK Investment Management LLC now owns 33,600,948 shares of the healthcare company’s stock valued at $725,444,000 after purchasing an additional 6,698,008 shares in the last quarter. Sands Capital Ventures LLC acquired a new position in UiPath in the third quarter valued at approximately $200,538,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in UiPath by 24.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,615,356 shares of the healthcare company’s stock valued at $759,750,000 after purchasing an additional 3,500,987 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of UiPath by 72.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,437,445 shares of the healthcare company’s stock valued at $277,647,000 after acquiring an additional 2,697,742 shares during the period. 51.80% of the stock is owned by hedge funds and other institutional investors.

About UiPath (Get Rating)

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.

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