UiPath (NYSE:PATH) Trading Up 0.5%

Shares of UiPath Inc. (NYSE:PATH - Get Free Report) shot up 0.5% during trading on Wednesday . The stock traded as high as $19.91 and last traded at $19.65. 1,215,390 shares were traded during mid-day trading, a decline of 86% from the average session volume of 8,732,511 shares. The stock had previously closed at $19.55.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PATH. Morgan Stanley lifted their price objective on shares of UiPath from $17.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 14th. Bank of America lifted their price objective on shares of UiPath from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, March 14th. Scotiabank lifted their price objective on shares of UiPath from $29.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 14th. Canaccord Genuity Group lifted their price objective on shares of UiPath from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. raised shares of UiPath from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $22.00 to $28.00 in a research report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.41.

UiPath Stock Up 0.7 %

The business's fifty day moving average price is $22.42 and its 200 day moving average price is $21.55. The firm has a market capitalization of $11.20 billion, a PE ratio of -115.82 and a beta of 0.96.

UiPath (NYSE:PATH - Get Free Report) last posted its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.10. The firm had revenue of $405.25 million during the quarter, compared to analysts' expectations of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. On average, analysts anticipate that UiPath Inc. will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $21.66, for a total value of $866,400.00. Following the completion of the transaction, the chief financial officer now directly owns 660,762 shares of the company's stock, valued at $14,312,104.92. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 72,000 shares of company stock valued at $1,591,360 over the last ninety days. Corporate insiders own 31.03% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Smith Anglin Financial LLC purchased a new position in UiPath in the first quarter valued at about $1,249,000. Simplicity Wealth LLC acquired a new stake in shares of UiPath in the first quarter valued at approximately $277,000. Raymond James Financial Services Advisors Inc. grew its position in shares of UiPath by 15.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 197,938 shares of the healthcare company's stock valued at $4,487,000 after purchasing an additional 26,653 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of UiPath by 7.8% in the first quarter. IFM Investors Pty Ltd now owns 87,458 shares of the healthcare company's stock valued at $1,983,000 after purchasing an additional 6,357 shares during the last quarter. Finally, Kovack Advisors Inc. acquired a new stake in shares of UiPath in the first quarter valued at approximately $220,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.