UiPath (NYSE:PATH) Upgraded at DA Davidson

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

A number of other research firms have also weighed in on PATH. Truist Financial raised their price objective on shares of UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Canaccord Genuity Group set a $16.00 target price on shares of UiPath and gave the stock a "buy" rating in a research note on Monday, June 2nd. Royal Bank Of Canada lifted their target price on shares of UiPath from $13.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Friday, May 30th. Mizuho reduced their price objective on shares of UiPath from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley boosted their price objective on shares of UiPath from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.83.

UiPath Price Performance

Shares of NYSE:PATH opened at $12.57 on Tuesday. The company's 50-day moving average price is $12.75 and its two-hundred day moving average price is $12.45. UiPath has a one year low of $9.38 and a one year high of $15.93. The stock has a market capitalization of $6.72 billion, a PE ratio of -104.70, a price-to-earnings-growth ratio of 16.31 and a beta of 1.04.

UiPath (NYSE:PATH - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. UiPath had a negative net margin of 4.65% and a negative return on equity of 3.05%. The business had revenue of $356.62 million for the quarter, compared to analyst estimates of $332.17 million. During the same quarter in the prior year, the business earned $0.13 EPS. UiPath's quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts anticipate that UiPath will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $12.44, for a total value of $559,800.00. Following the transaction, the chief executive officer owned 5,148,376 shares in the company, valued at approximately $64,045,797.44. This represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 98,795 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $12.01, for a total value of $1,186,527.95. Following the transaction, the chief financial officer owned 987,322 shares in the company, valued at $11,857,737.22. This represents a 9.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 740,117 shares of company stock worth $9,289,244. 23.19% of the stock is owned by corporate insiders.

Institutional Trading of UiPath

Hedge funds have recently modified their holdings of the business. 111 Capital acquired a new position in shares of UiPath in the second quarter worth about $167,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of UiPath by 7.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,324 shares of the company's stock valued at $1,028,000 after purchasing an additional 5,513 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of UiPath during the second quarter valued at approximately $275,000. Robeco Institutional Asset Management B.V. bought a new position in shares of UiPath during the second quarter valued at approximately $208,000. Finally, Truist Financial Corp grew its holdings in shares of UiPath by 14.5% during the second quarter. Truist Financial Corp now owns 38,323 shares of the company's stock valued at $491,000 after purchasing an additional 4,855 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

UiPath Company Profile

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.

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