Evercore ISI Forecasts Strong Price Appreciation for UiPath (NYSE:PATH) Stock

UiPath (NYSE:PATH - Get Free Report) had its price target increased by stock analysts at Evercore ISI from $11.00 to $15.00 in a report released on Friday,Benzinga reports. The firm currently has an "in-line" rating on the stock. Evercore ISI's price target would suggest a potential upside of 12.95% from the company's previous close.

PATH has been the subject of a number of other research reports. Morgan Stanley reduced their price target on UiPath from $16.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. BMO Capital Markets boosted their price target on UiPath from $11.50 to $15.50 and gave the stock a "market perform" rating in a research report on Friday. Canaccord Genuity Group reduced their price target on UiPath from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Truist Financial boosted their price target on UiPath from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Mizuho reduced their price target on UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.41.

UiPath Trading Up 2.6%

NYSE PATH traded up $0.34 on Friday, reaching $13.28. The stock had a trading volume of 47,371,291 shares, compared to its average volume of 10,666,374. The business has a 50 day moving average price of $11.53 and a 200 day moving average price of $12.69. UiPath has a 1 year low of $9.38 and a 1 year high of $15.93. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -83.00 and a beta of 1.01.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $356.62 million during the quarter, compared to analysts' expectations of $332.17 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business's quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that UiPath will post -0.17 earnings per share for the current fiscal year.

Insider Activity at UiPath

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

Institutional Investors Weigh In On UiPath

Several large investors have recently modified their holdings of the stock. CIBC Asset Management Inc grew its stake in shares of UiPath by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company's stock valued at $187,000 after purchasing an additional 736 shares during the period. V Square Quantitative Management LLC grew its stake in shares of UiPath by 33.4% in the 4th 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. Tidal Investments LLC grew its stake in shares of UiPath by 3.7% in the 4th quarter. Tidal Investments LLC now owns 22,487 shares of the company's stock valued at $286,000 after purchasing an additional 797 shares during the period. True Wealth Design LLC grew its stake in shares of UiPath by 18.4% in the 4th quarter. True Wealth Design LLC now owns 5,163 shares of the company's stock valued at $66,000 after purchasing an additional 801 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of UiPath by 47.8% in the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company's stock valued at $32,000 after purchasing an additional 804 shares during the period. 62.50% of the stock is currently owned by institutional investors.

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.