UiPath (NYSE:PATH) Lowered to “Equal Weight” at Morgan Stanley

Morgan Stanley cut shares of UiPath (NYSE:PATHGet Rating) from an overweight rating to an equal weight rating in a research note published on Wednesday, MarketBeat Ratings reports. They currently have $15.00 price objective on the healthcare company’s stock, down from their previous price objective of $32.00.

Several other research firms have also commented on PATH. Credit Suisse Group dropped their price objective on shares of UiPath from $57.50 to $45.00 in a research note on Thursday, June 2nd. Royal Bank of Canada dropped their target price on shares of UiPath from $32.00 to $27.00 in a research note on Tuesday, May 31st. BMO Capital Markets dropped their target price on shares of UiPath from $29.00 to $21.00 in a research note on Thursday, June 2nd. Canaccord Genuity Group reiterated a buy rating and issued a $25.00 target price on shares of UiPath in a research note on Thursday, July 7th. Finally, Truist Financial lowered their price objective on shares of UiPath from $55.00 to $45.00 in a research report on Thursday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $28.39.

UiPath Price Performance

NYSE:PATH opened at $13.84 on Wednesday. UiPath has a one year low of $12.21 and a one year high of $59.57. The company’s 50-day simple moving average is $18.95 and its 200 day simple moving average is $21.13. The firm has a market capitalization of $7.54 billion, a P/E ratio of -17.97 and a beta of 0.11.

UiPath (NYSE:PATHGet Rating) last posted its quarterly earnings data on Tuesday, September 6th. The healthcare company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.09. UiPath had a negative net margin of 42.95% and a negative return on equity of 18.47%. The business had revenue of $242.22 million for the quarter, compared to analyst estimates of $230.68 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. UiPath’s quarterly revenue was up 23.9% on a year-over-year basis. On average, equities research analysts expect that UiPath will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at UiPath

In other UiPath news, Director Kimberly Hammonds sold 2,521 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $18.70, for a total transaction of $47,142.70. Following the completion of the sale, the director now directly owns 100,662 shares of the company’s stock, valued at $1,882,379.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kimberly Hammonds sold 2,521 shares of the stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $18.70, for a total value of $47,142.70. Following the completion of the sale, the director now directly owns 100,662 shares of the company’s stock, valued at $1,882,379.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 100,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $20.70, for a total transaction of $2,070,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,387,266 shares of the company’s stock, valued at $28,716,406.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,321 shares of company stock valued at $2,589,103. Insiders own 31.88% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds and other institutional investors have recently modified their holdings of PATH. ARK Investment Management LLC boosted its position in shares of UiPath by 11.9% during the second quarter. ARK Investment Management LLC now owns 37,595,245 shares of the healthcare company’s stock worth $641,751,000 after acquiring an additional 3,994,297 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of UiPath by 11.5% during the first quarter. Vanguard Group Inc. now owns 24,800,243 shares of the healthcare company’s stock worth $535,437,000 after acquiring an additional 2,557,428 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of UiPath during the second quarter worth $436,988,000. Nikko Asset Management Americas Inc. boosted its position in shares of UiPath by 9.0% during the second quarter. Nikko Asset Management Americas Inc. now owns 22,917,064 shares of the healthcare company’s stock worth $413,195,000 after acquiring an additional 1,890,246 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of UiPath by 32.4% during the second quarter. Goldman Sachs Group Inc. now owns 9,623,861 shares of the healthcare company’s stock worth $175,058,000 after acquiring an additional 2,354,365 shares during the last quarter. 51.35% of the stock is owned by hedge funds and other institutional investors.

UiPath Company Profile

(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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Analyst Recommendations for UiPath (NYSE:PATH)

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