UiPath (NYSE:PATH) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• UiPath shares saw unusually heavy trading on Monday, with about 101.6 million shares changing hands, roughly 153% above the prior session’s volume. The stock rose 2.7% to $12.475.
• Several analysts recently cut their price targets on UiPath, though the overall consensus remains Hold with an average target price of $13.80. Recent target reductions came from Morgan Stanley, BMO Capital Markets, DA Davidson, and UBS.
• UiPath’s latest earnings showed revenue growth of 17.3% year over year to $418.38 million, while EPS matched estimates at $0.15. Institutional ownership remains high at 62.5% of the stock.

UiPath, Inc. (NYSE:PATH - Get Free Report) shares saw unusually-strong trading volume on Monday . 101,580,909 shares were traded during mid-day trading, an increase of 153% from the previous session's volume of 40,130,504 shares.The stock last traded at $12.4750 and had previously closed at $12.15.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PATH. Morgan Stanley dropped their target price on shares of UiPath from $17.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, May 29th. New Street Research set a $13.00 price target on shares of UiPath in a report on Monday, June 1st. BMO Capital Markets lowered their price target on UiPath from $14.00 to $13.00 and set a "market perform" rating on the stock in a research report on Monday, June 1st. DA Davidson dropped their price objective on UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Friday, May 29th. Finally, UBS Group cut their price objective on UiPath from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $13.80.

UiPath Stock Up 2.7%

The stock's 50-day moving average is $11.04 and its 200-day moving average is $11.82. The firm has a market cap of $6.46 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98.

UiPath (NYSE:PATH - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.15 earnings per share for the quarter, meeting analysts' consensus estimates of $0.15. The firm had revenue of $418.38 million during the quarter, compared to the consensus estimate of $397.54 million. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The business's revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. As a group, analysts expect that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On UiPath

Hedge funds have recently made changes to their positions in the stock. DNB Asset Management AS raised its position in UiPath by 266.4% in the 4th quarter. DNB Asset Management AS now owns 565,799 shares of the company's stock valued at $9,273,000 after purchasing an additional 411,395 shares during the last quarter. Burney Co. bought a new stake in shares of UiPath during the fourth quarter worth $2,285,000. State of Michigan Retirement System bought a new stake in shares of UiPath during the first quarter worth $1,143,000. Vanguard Group Inc. increased its stake in shares of UiPath by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company's stock valued at $804,994,000 after buying an additional 1,219,057 shares in the last quarter. Finally, Pier Capital LLC increased its stake in shares of UiPath by 95.4% in the fourth quarter. Pier Capital LLC now owns 251,245 shares of the company's stock valued at $4,118,000 after buying an additional 122,671 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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.

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