UiPath (NYSE:PATH) Upgraded by DA Davidson to Hold Rating

UiPath (NYSE:PATH - Get Free Report) was upgraded by equities research analysts at DA Davidson to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group set a $16.00 target price on UiPath and gave the company a "buy" rating in a report on Monday, June 2nd. Bank of America restated an "underperform" rating and set a $10.00 price objective (down previously from $18.00) on shares of UiPath in a research report on Thursday, March 13th. Mizuho lowered their price objective on 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 reaffirmed a "hold" rating on shares of UiPath in a research report on Friday, May 30th. Finally, Truist Financial boosted their price target on shares of UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, UiPath presently has an average rating of "Hold" and a consensus target price of $13.83.

UiPath Price Performance

PATH traded up $0.12 during trading hours on Monday, hitting $13.23. 10,636,732 shares of the stock were exchanged, compared to its average volume of 10,589,125. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of -82.69 and a beta of 1.06. The stock has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $12.68. UiPath has a 12 month low of $9.38 and a 12 month high of $15.93.

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

Insiders Place Their Bets

In related news, CAO Hitesh Ramani sold 12,500 shares of the firm's 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 of the company's stock, valued at $3,208,739.29. This trade represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 sale, the chief financial officer now owns 987,322 shares in the company, valued at approximately $11,857,737.22. This trade 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.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company's stock valued at $31,000 after buying an additional 1,152 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of UiPath by 198.6% during the first quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock valued at $31,000 after buying an additional 1,970 shares in the last quarter. First Horizon Advisors Inc. raised its position in UiPath by 47.8% during 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 period. CX Institutional purchased a new stake in UiPath in the 1st quarter worth about $36,000. Finally, EverSource Wealth Advisors LLC lifted its stake in UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company's stock worth $38,000 after acquiring an additional 1,742 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

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.