UiPath (NYSE:PATH) Price Target Raised to $15.00

UiPath (NYSE:PATH - Get Free Report) had its price target hoisted by stock analysts at Morgan Stanley from $12.00 to $15.00 in a report released on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 14.85% from the stock's previous close.

Several other equities analysts have also weighed in on PATH. Bank of America restated an "underperform" rating and issued a $10.00 price target (down previously from $18.00) on shares of UiPath in a research note on Thursday, March 13th. UBS Group cut their price target on UiPath from $14.00 to $10.00 and set a "sell" rating for the company in a research note on Thursday, March 13th. Mizuho cut their price target on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. DA Davidson lifted their price target on UiPath from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Finally, Canaccord Genuity Group lifted their price target on UiPath from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $13.83.

UiPath Stock Up 0.1%

Shares of UiPath stock traded up $0.01 during trading on Monday, reaching $13.06. The company's stock had a trading volume of 10,925,641 shares, compared to its average volume of 10,639,793. The company has a market cap of $7.20 billion, a price-to-earnings ratio of -81.63 and a beta of 1.01. UiPath has a 1-year low of $9.38 and a 1-year high of $15.93. The company has a 50-day simple moving average of $11.65 and a two-hundred day simple moving average of $12.69.

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

Insiders Place Their Bets

In other news, CFO Ashim Gupta sold 98,795 shares of the business's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 987,322 shares in the company, valued at $11,857,737.22. The trade was a 9.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Hitesh Ramani sold 12,500 shares of the business'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 transaction, the chief accounting officer now owns 314,891 shares in the company, valued at approximately $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock worth $31,000 after purchasing an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. increased its stake in UiPath by 47.8% during the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock worth $32,000 after acquiring an additional 804 shares during the last quarter. Versant Capital Management Inc raised its position in UiPath by 198.6% in the first quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock valued at $31,000 after purchasing an additional 1,970 shares during the period. EverSource Wealth Advisors LLC raised its position in UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock valued at $38,000 after purchasing an additional 1,742 shares during the period. Finally, V Square Quantitative Management LLC raised its position in UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company's stock valued at $39,000 after purchasing an additional 759 shares during the period. 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.