UiPath (NYSE:PATH) Given New $16.00 Price Target at Canaccord Genuity Group

UiPath (NYSE:PATH) had its price target upped by Canaccord Genuity Group from $14.00 to $16.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Bank of America reaffirmed an “underperform” rating and issued a $10.00 price objective (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Royal Bank of Canada upped their price objective on UiPath from $13.00 to $15.00 and gave the company a “sector perform” rating in a research report on Friday. BMO Capital Markets upped their price objective on UiPath from $11.50 to $15.50 and gave the company a “market perform” rating in a research report on Friday. Truist Financial increased their price target on UiPath from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday. Finally, Mizuho lowered their price target on UiPath from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.72.

UiPath Stock Down 6.3%

UiPath stock opened at $12.47 on Monday. The company has a market capitalization of $6.88 billion, a P/E ratio of -77.93 and a beta of 1.01. The stock’s 50 day moving average is $11.55 and its 200 day moving average is $12.69. UiPath has a twelve month low of $9.38 and a twelve month high of $15.93.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $356.62 million for the quarter, compared to analysts’ expectations of $332.17 million. UiPath had a negative return on equity of 4.14% and a negative net margin of 6.49%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. As a group, equities analysts expect that UiPath will post -0.17 EPS for the current year.

Insider Transactions at UiPath

In other news, CAO Hitesh Ramani sold 12,500 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the completion of the sale, the chief accounting officer now directly owns 314,891 shares in the company, valued at $3,208,739.29. This represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 98,795 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the completion of the sale, the chief financial officer now owns 987,322 shares of the company’s stock, valued at $11,857,737.22. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On UiPath

A number of institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC increased its stake in UiPath by 222.6% in the 1st quarter. Acadian Asset Management LLC now owns 4,241,047 shares of the company’s stock worth $43,667,000 after buying an additional 2,926,263 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in UiPath by 5.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,477,730 shares of the company’s stock worth $15,221,000 after buying an additional 75,737 shares in the last quarter. Woodline Partners LP increased its stake in UiPath by 69.6% in the 1st quarter. Woodline Partners LP now owns 22,566 shares of the company’s stock worth $232,000 after buying an additional 9,257 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in UiPath in the 1st quarter worth $3,165,000. Finally, Voleon Capital Management LP purchased a new stake in UiPath in the 1st quarter worth $437,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Company Profile

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.