UiPath (NYSE:PATH) Sees Unusually-High Trading Volume – Here’s Why

UiPath, Inc. (NYSE:PATH) shares saw strong trading volume on Monday . Approximately 101,580,909 shares were traded during mid-day trading, an increase of 153% from the previous session’s volume of 40,130,504 shares.The stock last traded at $12.4750 and had previously closed at $12.15.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PATH shares. Wall Street Zen downgraded shares of UiPath from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. DA Davidson cut their price objective on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, May 29th. Bank of America raised their target price on UiPath from $12.00 to $13.00 and gave the company an “underperform” rating in a research note on Friday, May 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UiPath in a research report on Friday, July 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of UiPath in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.80.

UiPath Price Performance

The company’s fifty day simple moving average is $11.11 and its two-hundred day simple moving average is $11.75. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.46 and a beta of 0.98.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $418.38 million during the quarter, compared to analysts’ expectations of $397.54 million. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. On average, analysts forecast that UiPath, Inc. will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently added to or reduced their stakes in PATH. DNB Asset Management AS boosted its position in shares of UiPath by 266.4% during the fourth quarter. DNB Asset Management AS now owns 565,799 shares of the company’s stock valued at $9,273,000 after buying an additional 411,395 shares during the last quarter. Burney Co. purchased a new stake in UiPath in the 4th quarter valued at $2,285,000. State of Michigan Retirement System purchased a new stake in UiPath in the 1st quarter valued at $1,143,000. Vanguard Group Inc. lifted its stake in UiPath by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company’s stock valued at $804,994,000 after acquiring an additional 1,219,057 shares in the last quarter. Finally, Pier Capital LLC lifted its stake in UiPath by 95.4% during the 4th quarter. Pier Capital LLC now owns 251,245 shares of the company’s stock valued at $4,118,000 after acquiring an additional 122,671 shares in the last quarter. Institutional investors and hedge funds 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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.