UiPath (NYSE:PATH) Price Target Raised to $15.00

UiPath (NYSE:PATH) had its price target raised by Evercore ISI from $11.00 to $15.00 in a research report report published on Friday,Benzinga reports. The firm currently has an in-line rating on the stock.

PATH has been the subject of several other research reports. Royal Bank of Canada raised their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Friday. Barclays raised their target price on UiPath from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday. Bank of America reissued an “underperform” rating and issued a $10.00 target price (down from $18.00) on shares of UiPath in a research report on Thursday, March 13th. BMO Capital Markets boosted their price objective on UiPath from $11.50 to $15.50 and gave the company a “market perform” rating in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on shares of UiPath from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, UiPath has an average rating of “Hold” and an average target price of $13.41.

UiPath Trading Up 2.6%

Shares of PATH opened at $13.28 on Friday. UiPath has a 12 month low of $9.38 and a 12 month high of $15.93. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of -83.00 and a beta of 1.01. The stock has a 50 day moving average of $11.53 and a 200 day moving average of $12.69.

UiPath (NYSE:PATH) last announced its 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 4.14% and a negative net margin of 6.49%. The firm had revenue of $356.62 million during the quarter, compared to analyst estimates of $332.17 million. During the same period last year, the firm posted $0.13 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that UiPath will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, 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 value of $1,186,527.95. Following the completion of the transaction, the chief financial officer now directly owns 987,322 shares in the company, valued at approximately $11,857,737.22. The trade was a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hitesh Ramani sold 12,500 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $10.19, for a total transaction of $127,375.00. Following the completion of the transaction, the chief accounting officer now owns 314,891 shares of the company’s stock, valued at $3,208,739.29. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.19% of the company’s stock.

Institutional Trading of UiPath

Hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in UiPath by 88.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after buying an additional 1,152 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of UiPath by 47.8% in the 4th 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. Versant Capital Management Inc boosted its stake in shares of UiPath by 198.6% in the 1st quarter. Versant Capital Management Inc now owns 2,962 shares of the company’s stock valued at $31,000 after purchasing an additional 1,970 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of UiPath by 141.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock valued at $38,000 after purchasing an additional 1,742 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of UiPath by 33.4% in the 4th 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. 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.