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

UiPath (NYSE:PATH - Free Report) had its price target boosted by Canaccord Genuity Group from $14.00 to $16.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on PATH. Morgan Stanley reduced their target price on UiPath from $16.00 to $12.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. BMO Capital Markets increased their target price on UiPath from $11.50 to $15.50 and gave the stock a "market perform" rating in a report on Friday. Scotiabank increased their target price on UiPath from $12.00 to $13.00 and gave the stock a "sector perform" rating in a report on Friday. Truist Financial increased their target price on UiPath from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Friday. Finally, Barclays reaffirmed an "equal weight" rating on shares of UiPath in a report on Friday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.72.

UiPath Trading Up 4.4%

Shares of NYSE:PATH traded up $0.55 on Monday, hitting $13.04. The company had a trading volume of 18,170,248 shares, compared to its average volume of 10,667,328. UiPath has a 52-week low of $9.38 and a 52-week high of $15.93. The business has a 50 day moving average of $11.55 and a 200 day moving average of $12.69. The company has a market cap of $7.19 billion, a PE ratio of -81.50 and a beta of 1.01.

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

Insider Activity

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

Hedge Funds Weigh In On UiPath

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its stake in UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock worth $187,000 after purchasing an additional 736 shares during the period. V Square Quantitative Management LLC boosted its stake in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock worth $39,000 after purchasing an additional 759 shares during the period. Tidal Investments LLC boosted its stake in UiPath by 3.7% in the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company's stock worth $286,000 after purchasing an additional 797 shares during the period. True Wealth Design LLC boosted its stake in UiPath by 18.4% in the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock worth $66,000 after purchasing an additional 801 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock worth $32,000 after purchasing an additional 804 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

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.