UiPath (NYSE:PATH) Stock Price Up 8.2% – Still a Buy?

Shares of UiPath, Inc. (NYSE:PATH) traded up 8.2% on Monday . The stock traded as high as $14.84 and last traded at $14.8780. 26,409,759 shares were traded during trading, a decline of 43% from the average session volume of 46,592,535 shares. The stock had previously closed at $13.75.

Analyst Upgrades and Downgrades

PATH has been the subject of several research reports. Morgan Stanley reduced their target price on UiPath from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, May 29th. Canaccord Genuity Group reissued a “hold” rating and issued a $17.00 price objective (up from $15.00) on shares of UiPath in a report on Friday, September 4th. Oppenheimer reaffirmed a “market perform” rating on shares of UiPath in a report on Friday, September 4th. Barclays increased their price target on shares of UiPath from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, September 4th. Finally, New Street Research set a $13.00 target price on shares of UiPath in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.75.

UiPath Stock Performance

The firm has a fifty day moving average price of $14.31 and a 200 day moving average price of $12.12. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 1.43 and a beta of 1.02.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. UiPath had a return on equity of 9.70% and a net margin of 21.03%.The firm had revenue of $410.26 million for the quarter, compared to analyst estimates of $397.77 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. UiPath’s quarterly revenue was up 13.3% on a year-over-year basis. Research analysts predict that UiPath, Inc. will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Ashim Gupta sold 117,339 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $13.85, for a total value of $1,625,145.15. Following the completion of the transaction, the chief operating officer owned 2,037,377 shares in the company, valued at $28,217,671.45. This trade represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel Dines sold 1,402,347 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $16.07, for a total transaction of $22,535,716.29. Following the completion of the sale, the chief executive officer owned 26,491,238 shares of the company’s stock, valued at $425,714,194.66. This trade represents a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several institutional investors have recently modified their holdings of the company. Trifecta Capital Advisors LLC purchased a new position in UiPath in the 2nd quarter valued at approximately $27,000. AdvisorNet Financial Inc grew its holdings in UiPath by 750.0% in the first quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company’s stock valued at $38,000 after purchasing an additional 3,000 shares during the last quarter. REAP Financial Group LLC purchased a new position in shares of UiPath in the fourth quarter valued at $44,000. Global Retirement Partners LLC acquired a new position in shares of UiPath during the 2nd quarter worth $57,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of UiPath by 36.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,968 shares of the company’s stock worth $81,000 after buying an additional 1,329 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About UiPath

UiPath Inc (NYSE: PATH) develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.