Scotiabank Raises UiPath (NYSE:PATH) Price Target to $13.00

UiPath (NYSE:PATH - Get Free Report) had its price target raised by Scotiabank from $12.00 to $13.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price would suggest a potential upside of 0.23% from the stock's previous close.

Several other analysts also recently commented on the stock. UBS Group reduced their price target on shares of UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company upped their target price on shares of UiPath from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Friday. Bank of America reiterated an "underperform" rating and set a $10.00 target price (down previously from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Morgan Stanley dropped their price target on UiPath from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $13.00 price objective on shares of UiPath in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, UiPath currently has a consensus rating of "Hold" and a consensus target price of $13.72.

UiPath Trading Up 3.8%

Shares of NYSE PATH traded up $0.48 during trading hours on Friday, reaching $12.97. The stock had a trading volume of 10,505,953 shares, compared to its average volume of 11,988,388. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -81.06 and a beta of 1.01. UiPath has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The firm has a 50-day moving average of $11.55 and a 200-day moving average of $12.69.

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

Insider Activity at UiPath

In related news, CAO Hitesh Ramani sold 12,500 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. This represents a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total value 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 $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 Investors Weigh In On UiPath

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in UiPath by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company's stock worth $495,029,000 after acquiring an additional 1,396,972 shares during the last quarter. Senvest Management LLC increased its stake in shares of UiPath by 29.2% during the 4th quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock worth $178,890,000 after purchasing an additional 3,180,300 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of UiPath by 45.3% during the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of UiPath by 10.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,132,003 shares of the company's stock worth $63,164,000 after purchasing an additional 602,866 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in UiPath by 479.3% in the 1st 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 in the last quarter. 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.