UiPath (NYSE:PATH) Given New $15.00 Price Target at Royal Bank of Canada

UiPath (NYSE:PATH) had its price objective raised by Royal Bank of Canada from $13.00 to $15.00 in a research report sent to investors on Friday morning, Marketbeat reports. They currently have a sector perform rating on the stock.

Several other equities research analysts have also commented on PATH. BMO Capital Markets reduced their price objective on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research note on Friday, March 14th. Morgan Stanley reduced their target price on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Canaccord Genuity Group reduced their target price on shares of UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Bank of America reissued an “underperform” rating and issued a $10.00 price objective (down from $18.00) on shares of UiPath in a research note on Thursday, March 13th. Finally, 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, UiPath presently has an average rating of “Hold” and an average target price of $13.41.

UiPath Stock Performance

Shares of UiPath stock opened at $13.28 on Friday. UiPath has a 52-week low of $9.38 and a 52-week high of $15.93. The stock has a market capitalization of $7.32 billion, a PE ratio of -83.00 and a beta of 1.01. The company has a 50-day simple moving average of $11.53 and a two-hundred day simple moving average of $12.69.

UiPath (NYSE:PATH) last issued its 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 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 firm earned $0.13 EPS. UiPath’s revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that UiPath will post -0.17 EPS for the current fiscal year.

Insider Activity at UiPath

In related news, CAO Hitesh Ramani sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total value of $127,375.00. Following the sale, the chief accounting officer now owns 314,891 shares in the company, valued at $3,208,739.29. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ashim Gupta sold 98,795 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $12.01, for a total transaction of $1,186,527.95. Following the completion of the sale, the chief financial officer now directly owns 987,322 shares in the company, valued at $11,857,737.22. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UiPath

Hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc lifted its position in shares of UiPath by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 14,741 shares of the company’s stock valued at $187,000 after buying an additional 736 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in UiPath by 33.4% during the fourth 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 in the last quarter. Tidal Investments LLC lifted its holdings in UiPath by 3.7% during the fourth quarter. Tidal Investments LLC now owns 22,487 shares of the company’s stock valued at $286,000 after purchasing an additional 797 shares in the last quarter. True Wealth Design LLC lifted its holdings in UiPath by 18.4% during the fourth 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 in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in UiPath by 47.8% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.