UiPath (NYSE:PATH) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• UiPath has been upgraded to a "strong-buy" rating by Wall Street Zen, increasing confidence among investors.
• Several analysts have raised their target prices for UiPath, with new estimates ranging from $15.00 to $15.50.
• In its latest earnings report, UiPath exceeded earnings expectations, reporting $0.11 EPS against a consensus estimate of $0.10.

UiPath (NYSE:PATH - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Other analysts have also issued research reports about the company. Scotiabank boosted their price target on UiPath from $12.00 to $13.00 and gave the company a "sector perform" rating in a report on Friday, May 30th. Evercore ISI boosted their price objective on UiPath from $11.00 to $15.00 and gave the company an "in-line" rating in a research report on Friday, May 30th. DA Davidson upgraded UiPath to a "hold" rating in a research report on Tuesday, July 22nd. Truist Financial boosted their price objective on UiPath from $12.00 to $13.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Finally, Mizuho lowered their price objective on UiPath from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.83.

UiPath Price Performance

Shares of PATH traded down $0.15 during trading hours on Friday, hitting $12.07. The stock had a trading volume of 10,655,741 shares, compared to its average volume of 11,688,709. UiPath has a 12 month low of $9.38 and a 12 month high of $15.93. The firm has a market capitalization of $6.46 billion, a PE ratio of -100.53, a PEG ratio of 16.00 and a beta of 1.04. The stock has a fifty day moving average price of $12.67 and a 200 day moving average price of $12.41.

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

Insider Transactions at UiPath

In other UiPath news, CEO Daniel Dines sold 45,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $12.16, for a total transaction of $547,200.00. Following the sale, the chief executive officer directly owned 4,698,376 shares in the company, valued at $57,132,252.16. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 875,117 shares of company stock worth $10,952,894 in the last quarter. Corporate insiders own 23.19% of the company's stock.

Institutional Investors Weigh In On UiPath

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc raised its position in UiPath by 320.4% during the second quarter. AdvisorNet Financial Inc now owns 2,476 shares of the company's stock valued at $32,000 after purchasing an additional 1,887 shares during the period. Versant Capital Management Inc grew its stake in shares of UiPath by 198.6% during the first quarter. Versant Capital Management Inc now owns 2,962 shares of the company's stock valued at $31,000 after buying an additional 1,970 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of UiPath by 48.0% during the second quarter. GAMMA Investing LLC now owns 2,989 shares of the company's stock valued at $38,000 after buying an additional 969 shares during the last quarter. IFP Advisors Inc grew its stake in shares of UiPath by 508.0% during the second quarter. IFP Advisors Inc now owns 3,283 shares of the company's stock valued at $42,000 after buying an additional 2,743 shares during the last quarter. Finally, CX Institutional bought a new position in shares of UiPath during the first quarter valued at approximately $36,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.