UiPath (NYSE:PATH) Given New $15.00 Price Target at Royal Bank of Canada

UiPath (NYSE:PATH - Free Report) had its price objective increased by Royal Bank of Canada from $13.00 to $15.00 in a report issued on Friday, MarketBeat.com reports. The firm currently has a sector perform rating on the stock.

Several other equities research analysts have also commented on PATH. Mizuho lowered their price objective on UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company increased their price target on shares of UiPath from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday. UBS Group cut their price objective on shares of UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a report on Thursday, March 13th. Barclays decreased their price objective on shares of UiPath from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Evercore ISI dropped their target price on UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $13.41.

UiPath Trading Up 2.6%

Shares of NYSE:PATH traded up $0.34 on Friday, hitting $13.28. 47,371,291 shares of the company were exchanged, compared to its average volume of 10,666,374. The firm has a market capitalization of $7.32 billion, a P/E ratio of -83.00 and a beta of 1.01. UiPath has a 1-year low of $9.38 and a 1-year high of $15.93. The stock's 50 day moving average price is $11.53 and its 200 day moving average price is $12.69.

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

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 98,795 shares of the company's 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 directly owns 987,322 shares in the company, valued at $11,857,737.22. This represents a 9.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of the firm'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 of the company's stock, valued at $3,208,739.29. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.19% of the company's stock.

Hedge Funds Weigh In On UiPath

Several institutional investors and hedge funds have recently bought and sold shares of PATH. Acadian Asset Management LLC increased its holdings in shares of UiPath by 222.6% during 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in UiPath by 5.4% in the first 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 acquiring an additional 75,737 shares during the period. Woodline Partners LP grew its position in UiPath by 69.6% in the first quarter. Woodline Partners LP now owns 22,566 shares of the company's stock worth $232,000 after acquiring an additional 9,257 shares during the period. Great Lakes Advisors LLC acquired a new stake in UiPath during the first quarter worth $3,165,000. Finally, Voleon Capital Management LP purchased a new stake in UiPath in the first quarter valued at $437,000. 62.50% of the stock is currently 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.