UiPath (NYSE:PATH) Given a $16.00 Price Target at Canaccord Genuity Group

UiPath (NYSE:PATH) received a $16.00 price objective from equities research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 21.07% from the stock’s previous close.

Several other research firms also recently weighed in on PATH. Barclays reaffirmed an “equal weight” rating on shares of UiPath in a research report on Friday, May 30th. DA Davidson lifted their price objective on shares of UiPath from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, May 30th. Evercore ISI upped their target price on shares of UiPath from $11.00 to $15.00 and gave the stock an “in-line” rating in a research note on Friday, May 30th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Friday, May 30th. Finally, Truist Financial upped their price objective on UiPath from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, UiPath has a consensus rating of “Hold” and an average target price of $13.83.

UiPath Trading Down 0.3%

PATH traded down $0.05 on Monday, hitting $13.22. The company had a trading volume of 5,708,742 shares, compared to its average volume of 10,604,680. The company’s fifty day moving average price is $11.70 and its 200 day moving average price is $12.70. UiPath has a 1 year low of $9.38 and a 1 year high of $15.93. The firm has a market cap of $7.29 billion, a P/E ratio of -82.53 and a beta of 1.06.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. UiPath had a negative net margin of 6.49% and a negative return on equity of 4.14%. The business had revenue of $356.62 million during the quarter, compared to analysts’ expectations of $332.17 million. During the same period last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts predict that UiPath will post -0.17 earnings per share for the current year.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 98,795 shares of the business’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 transaction of $1,186,527.95. Following the completion of the transaction, the chief financial officer now owns 987,322 shares in the company, valued at $11,857,737.22. The trade was a 9.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Hitesh Ramani sold 12,500 shares of the company’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 owns 314,891 shares of the company’s stock, valued at $3,208,739.29. This represents a 3.82% decrease in their position. 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

A number of hedge funds and other institutional investors have recently modified their holdings of PATH. 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 worth $187,000 after purchasing an additional 736 shares during the last quarter. V Square Quantitative Management LLC grew its position in UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after buying an additional 759 shares during the last quarter. Tidal Investments LLC grew its position in UiPath by 3.7% in the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock worth $286,000 after buying an additional 797 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of UiPath by 18.4% in the fourth quarter. True Wealth Design LLC now owns 5,163 shares of the company’s stock valued at $66,000 after buying an additional 801 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock valued at $32,000 after acquiring an additional 804 shares during the last quarter. 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.