UiPath (NASDAQ:PATH) PT Lowered to $21.00 at BMO Capital Markets

UiPath (NASDAQ:PATH – Get Rating) had its price objective decreased by equities researchers at BMO Capital Markets from $29.00 to $21.00 in a report issued on Thursday, The Fly reports. BMO Capital Markets’ price target points to a potential upside of 7.64% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of UiPath from $35.00 to $30.00 in a report on Wednesday, May 18th. Oppenheimer cut their price objective on shares of UiPath from $35.00 to $23.00 in a report on Thursday. Credit Suisse Group cut their target price on shares of UiPath from $57.50 to $45.00 in a research note on Thursday. Mizuho cut their target price on shares of UiPath from $70.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, March 31st. Finally, Royal Bank of Canada cut their target price on shares of UiPath from $32.00 to $27.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, UiPath currently has a consensus rating of “Hold” and an average target price of $36.70.

Shares of UiPath stock traded up $2.68 during trading on Thursday, hitting $19.51. 434,399 shares of the company’s stock were exchanged, compared to its average volume of 6,758,751. The business has a 50-day simple moving average of $19.52 and a 200-day simple moving average of $32.10. UiPath has a 52-week low of $13.66 and a 52-week high of $82.30. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of -11.82 and a beta of 0.33.

UiPath (NASDAQ:PATH – Get Rating) last issued its earnings results on Wednesday, June 1st. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. UiPath had a negative net margin of 58.91% and a negative return on equity of 21.20%. The firm had revenue of $245.07 million during the quarter, compared to analysts’ expectations of $225.37 million. During the same quarter last year, the company posted ($0.81) earnings per share. The firm’s revenue was up 31.6% compared to the same quarter last year. Sell-side analysts forecast that UiPath will post -0.46 EPS for the current year.

In other news, Director Kimberly Hammonds sold 2,521 shares of the business’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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 31.88% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC purchased a new stake in UiPath during the 1st quarter worth approximately $2,403,000. Advisors Asset Management Inc. increased its position in shares of UiPath by 74.4% in the 1st quarter. Advisors Asset Management Inc. now owns 6,495 shares of the healthcare company’s stock valued at $140,000 after purchasing an additional 2,771 shares during the last quarter. Altimeter Capital Management LP increased its position in shares of UiPath by 175.4% in the 1st quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock valued at $71,579,000 after purchasing an additional 5,270,194 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of UiPath in the 1st quarter valued at approximately $6,943,000. Finally, Polar Capital Holdings Plc purchased a new stake in shares of UiPath in the 1st quarter valued at approximately $5,565,000. 52.19% of the stock is currently 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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