UiPath (NYSE:PATH) Stock Price Up 6.6% - Here's What Happened

Key Points

• UiPath shares rose 6.6% in mid-day trading Friday, reaching as high as $10.86 amid heavier-than-average volume of about 46.3 million shares. The stock closed previously at $10.20.
• Analyst sentiment remains cautious, with most ratings at Hold and an average target price of $13.80. Recent notes included UBS cutting its target to $12, while Needham reaffirmed a Buy rating with a $15 target.
• UiPath’s latest earnings showed solid growth, as the company matched EPS estimates at $0.15 and beat revenue expectations with $418.38 million, up 17.3% year over year. Institutional ownership remains high at 62.5% of shares.

UiPath, Inc. (NYSE:PATH - Get Free Report) shot up 6.6% during mid-day trading on Friday . The stock traded as high as $10.86 and last traded at $10.8750. Approximately 46,265,539 shares changed hands during trading, an increase of 10% from the average daily volume of 42,210,980 shares. The stock had previously closed at $10.20.

Wall Street Analyst Weigh In

Several research analysts recently commented on PATH shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of UiPath in a report on Friday, July 10th. UBS Group lowered their price target on UiPath from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, June 29th. Bank of America lifted their price objective on UiPath from $12.00 to $13.00 and gave the stock an "underperform" rating in a research note on Friday, May 29th. Wall Street Zen cut UiPath from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 target price on shares of UiPath in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $13.80.

UiPath Stock Up 7.6%

The business has a fifty day simple moving average of $11.14 and a two-hundred day simple moving average of $11.67. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 1.28 and a beta of 0.98.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PATH. DNB Asset Management AS boosted its stake in shares of 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. State of Michigan Retirement System bought a new stake in shares of UiPath during the first quarter worth approximately $1,143,000. Burney Co. acquired a new position in UiPath in the fourth quarter valued at approximately $2,285,000. Vanguard Group Inc. lifted its holdings in 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 during the period. Finally, Pier Capital LLC grew its holdings in UiPath by 95.4% during the 4th quarter. Pier Capital LLC now owns 251,245 shares of the company's stock worth $4,118,000 after acquiring an additional 122,671 shares during the period. 62.50% of the stock is 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. 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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