Wells Fargo & Company Issues Positive Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH - Get Free Report) had its target price hoisted by equities researchers at Wells Fargo & Company from $11.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential downside of 9.64% from the company's previous close.

Several other research firms have also issued reports on PATH. BMO Capital Markets lowered their price target on shares of UiPath from $16.00 to $11.50 and set a "market perform" rating on the stock in a research report on Friday, March 14th. 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 research note on Thursday, March 13th. Evercore ISI cut their price target on shares of UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a report on Thursday, March 13th. Mizuho dropped their target price on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $10.00 target price (down from $18.00) on shares of UiPath in a 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.41.

UiPath Trading Up 2.6%

UiPath stock traded up $0.34 during mid-day trading on Friday, reaching $13.28. The company had a trading volume of 47,371,291 shares, compared to its average volume of 10,666,374. UiPath has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The company has a market cap of $7.32 billion, a P/E ratio of -83.00 and a beta of 1.01. The business has a fifty day simple moving average of $11.53 and a 200 day simple moving average of $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 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 the consensus estimate of $332.17 million. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. The business's revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. Research analysts forecast that UiPath will post -0.17 EPS for the current year.

Insiders Place Their Bets

In other UiPath 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 transaction of $127,375.00. Following the transaction, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. The trade was a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ashim Gupta sold 98,795 shares of the company'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 owns 987,322 shares in the company, valued at approximately $11,857,737.22. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.19% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PATH. CIBC Asset Management Inc lifted its position in shares of UiPath by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock valued at $187,000 after buying an additional 736 shares during the last quarter. V Square Quantitative Management LLC increased its holdings 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 acquiring an additional 759 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of UiPath by 3.7% during the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company's stock worth $286,000 after buying an additional 797 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of UiPath by 18.4% during the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock worth $66,000 after buying an additional 801 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after buying an additional 804 shares during the last quarter. 62.50% of the stock is currently 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.