UiPath (NYSE:PATH) Downgraded by Wall Street Zen to Buy

UiPath (NYSE:PATH) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other brokerages have also recently weighed in on PATH. TD Cowen reiterated a “hold” rating on shares of UiPath in a research report on Thursday, December 4th. Morgan Stanley raised their price objective on shares of UiPath from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 9th. Truist Financial set a $17.00 target price on shares of UiPath in a research note on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of UiPath in a research report on Monday, December 29th. Finally, Wells Fargo & Company upped their price objective on shares of UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, UiPath has an average rating of “Hold” and a consensus price target of $16.00.

UiPath Price Performance

PATH stock opened at $12.92 on Friday. The company has a market capitalization of $6.91 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. UiPath has a 12 month low of $9.38 and a 12 month high of $19.84. The firm’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $14.00.

UiPath (NYSE:PATH) last issued its earnings results on Wednesday, December 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. UiPath had a net margin of 14.79% and a return on equity of 3.73%. The firm had revenue of $411.11 million during the quarter, compared to analysts’ expectations of $392.46 million. During the same quarter last year, the company posted $0.11 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that UiPath will post -0.17 earnings per share for the current year.

Insider Activity

In related news, CFO Ashim Gupta sold 67,468 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $16.10, for a total value of $1,086,234.80. Following the transaction, the chief financial officer directly owned 557,028 shares of the company’s stock, valued at approximately $8,968,150.80. This trade represents a 10.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Dines sold 45,000 shares of UiPath stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $15.01, for a total value of $675,450.00. Following the completion of the sale, the chief executive officer owned 27,893,585 shares in the company, valued at approximately $418,682,710.85. The trade was a 0.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 950,048 shares of company stock worth $15,881,744. Company insiders own 23.19% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several hedge funds and other institutional investors have recently made changes to their positions in PATH. Hudson Bay Capital Management LP purchased a new stake in shares of UiPath during the second quarter worth approximately $102,559,000. Norges Bank acquired a new stake in UiPath during the 2nd quarter worth $68,451,000. AQR Capital Management LLC grew its holdings in shares of UiPath by 76.0% during the second quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after buying an additional 4,926,341 shares in the last quarter. TFG Asset Management GP Ltd raised its position in shares of UiPath by 53.3% in the second quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock valued at $175,645,000 after buying an additional 4,772,244 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in shares of UiPath in the second quarter valued at about $59,561,000. Hedge funds and other 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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.