UiPath (NYSE:PATH) Stock Price Expected to Rise, Truist Financial Analyst Says

UiPath (NYSE:PATH - Get Free Report) had its price objective upped by equities researchers at Truist Financial from $12.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price objective indicates a potential downside of 0.31% from the company's previous close.

Several other equities research analysts also recently weighed in on PATH. DA Davidson increased their target price on shares of UiPath from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday. Evercore ISI reduced their price objective on shares of UiPath from $16.00 to $12.00 and set an "in-line" rating on the stock in a research report on Thursday, March 13th. Mizuho decreased their price objective on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC restated a "hold" rating on shares of UiPath in a research report on Friday. Finally, Scotiabank increased their price target on UiPath from $12.00 to $13.00 and gave the stock a "sector perform" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, UiPath currently has an average rating of "Hold" and a consensus price target of $13.72.

UiPath Stock Performance

NYSE:PATH traded up $0.55 during trading hours on Friday, reaching $13.04. The stock had a trading volume of 18,163,813 shares, compared to its average volume of 10,756,430. The stock has a market capitalization of $7.19 billion, a PE ratio of -81.50 and a beta of 1.01. UiPath has a 52 week low of $9.38 and a 52 week high of $15.93. The company has a 50 day moving average price of $11.55 and a two-hundred day moving average price of $12.69.

UiPath (NYSE:PATH - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $356.62 million for 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%. UiPath's 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. Equities research analysts predict that UiPath will post -0.17 EPS for the current year.

Insider Activity at UiPath

In other UiPath news, CAO Hitesh Ramani sold 12,500 shares of UiPath stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now owns 314,891 shares in the company, valued at approximately $3,208,739.29. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 value of $1,186,527.95. Following the completion of the sale, the chief financial officer now owns 987,322 shares in the company, valued at $11,857,737.22. The trade was a 9.10% decrease in their position. The disclosure for this sale can be found here. 23.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares 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. grew its position in UiPath by 479.3% during 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 increased its holdings in 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 in the last quarter. Acadian Asset Management LLC increased its holdings in UiPath by 222.6% in the first quarter. Acadian Asset Management LLC now owns 4,241,047 shares of the company's stock valued at $43,667,000 after buying an additional 2,926,263 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of UiPath by 45.3% in the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock worth $84,209,000 after acquiring an additional 2,072,089 shares during the period. 62.50% of the stock is currently 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.