BMO Capital Markets Forecasts Strong Price Appreciation for UiPath (NYSE:PATH) Stock

UiPath (NYSE:PATH - Free Report) had its price objective upped by BMO Capital Markets from $11.50 to $15.50 in a report published on Friday,Benzinga reports. The firm currently has a market perform rating on the stock.

Other research analysts have also issued research reports about the stock. Barclays raised their price objective on shares of UiPath from $12.00 to $14.00 and gave the company an "equal weight" rating in a report on Friday. Canaccord Genuity Group decreased their target price on shares of UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. UBS Group reduced their price objective 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. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a report on Friday. Finally, Royal Bank of Canada upped their target price on shares of UiPath from $13.00 to $15.00 and gave the stock a "sector perform" rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.41.

UiPath Stock Performance

Shares of PATH stock traded up $0.34 on Friday, hitting $13.28. The company's stock had a trading volume of 47,371,291 shares, compared to its average volume of 10,666,374. UiPath has a fifty-two week low of $9.38 and a fifty-two week high of $15.93. The stock's 50 day moving average is $11.53 and its 200-day moving average is $12.69. The company has a market capitalization of $7.32 billion, a PE ratio of -83.00 and a beta of 1.01.

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 the consensus estimate of $0.10 by $0.01. The business had revenue of $356.62 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, research analysts forecast that UiPath will post -0.17 earnings per share for the current year.

Insider Transactions 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 of the company's stock, valued at $3,208,739.29. The trade was a 3.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashim Gupta sold 98,795 shares of UiPath stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Company insiders own 23.19% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in UiPath in the fourth quarter worth approximately $71,191,000. Federated Hermes Inc. raised its holdings in shares of 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 acquiring an additional 4,732,712 shares in the last quarter. Senvest Management LLC raised its holdings in shares of UiPath by 29.2% during the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company's stock valued at $178,890,000 after acquiring an additional 3,180,300 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of UiPath by 222.6% during the first quarter. Acadian Asset Management LLC now owns 4,241,047 shares of the company's stock valued at $43,667,000 after acquiring an additional 2,926,263 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of UiPath by 45.3% during the fourth quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company's stock valued at $84,209,000 after acquiring an additional 2,072,089 shares in the last quarter. Hedge funds and other 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.