UiPath's (PATH) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of UiPath (NYSE:PATH - Free Report) in a research report sent to investors on Friday,Benzinga reports.

Several other equities analysts have also recently issued reports on PATH. Bank of America reiterated an "underperform" rating and set a $10.00 price target (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Canaccord Genuity Group reduced their price objective on shares of UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Evercore ISI reduced their price target on shares of UiPath from $16.00 to $12.00 and set an "in-line" rating for the company in a research report on Thursday, March 13th. Morgan Stanley dropped their price objective on UiPath from $16.00 to $12.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Finally, BMO Capital Markets dropped their price objective on UiPath from $16.00 to $11.50 and set a "market perform" rating on the stock in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $13.41.

UiPath Stock Up 2.6%

PATH stock traded up $0.34 during trading on Friday, hitting $13.28. 47,371,291 shares of the company's stock traded hands, compared to its average volume of 10,666,374. The stock has a fifty day moving average price of $11.53 and a two-hundred day moving average price of $12.69. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -83.00 and a beta of 1.01. UiPath has a 52 week low of $9.38 and a 52 week high of $15.93.

UiPath (NYSE:PATH - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business 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%. The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. As a group, equities research analysts expect that UiPath will post -0.17 EPS for the current fiscal year.

Insider Transactions at UiPath

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of the business's stock in a transaction dated 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 directly owns 314,891 shares of the company's stock, valued at approximately $3,208,739.29. The trade was a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was 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 approximately $11,857,737.22. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is owned by insiders.

Hedge Funds Weigh In On UiPath

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of UiPath during the 4th quarter worth approximately $71,191,000. Federated Hermes Inc. boosted its holdings in shares of UiPath by 479.3% in the first quarter. Federated Hermes Inc. now owns 5,720,096 shares of the company's stock valued at $58,917,000 after buying an additional 4,732,712 shares during the period. Senvest Management LLC boosted its holdings in shares of UiPath by 29.2% in the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock valued at $178,890,000 after buying an additional 3,180,300 shares during the period. Acadian Asset Management LLC boosted its holdings in UiPath by 222.6% during the first quarter. Acadian Asset Management LLC now owns 4,241,047 shares of the company's stock worth $43,667,000 after purchasing an additional 2,926,263 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in UiPath by 45.3% during the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after purchasing an additional 2,072,089 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

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.