UiPath (NYSE:PATH) Trading 8.2% Higher – Here’s Why

UiPath, Inc. (NYSE:PATH)’s stock price was up 8.2% during mid-day trading on Thursday . The stock traded as high as $18.39 and last traded at $18.1330. Approximately 5,052,547 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 45,272,668 shares. The stock had previously closed at $16.76.

Analysts Set New Price Targets

A number of brokerages have commented on PATH. Wall Street Zen downgraded UiPath from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. UBS Group lowered their target price on UiPath from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of UiPath in a report on Friday, May 29th. New Street Research set a $13.00 price target on shares of UiPath in a research report on Monday, June 1st. Finally, DA Davidson decreased their price target on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, UiPath currently has an average rating of “Hold” and a consensus target price of $13.87.

UiPath Price Performance

The company has a market cap of $9.44 billion, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The stock has a fifty day moving average price of $12.86 and a two-hundred day moving average price of $11.66.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The firm had revenue of $418.38 million for the quarter, compared to the consensus estimate of $397.54 million. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. Equities analysts predict that UiPath, Inc. will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at UiPath

In related news, CEO Daniel Dines sold 1,402,347 shares of the business’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 transaction, the chief executive officer directly owned 26,491,238 shares in the company, valued at approximately $425,714,194.66. The trade was a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.44% of the stock is owned by insiders.

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in PATH. Meeder Advisory Services Inc. boosted its position in UiPath by 7.6% in the fourth quarter. Meeder Advisory Services Inc. now owns 12,132 shares of the company’s stock worth $199,000 after purchasing an additional 861 shares during the last quarter. Pasadena Private Wealth LLC increased its position in shares of UiPath by 9.0% during the 1st quarter. Pasadena Private Wealth LLC now owns 12,750 shares of the company’s stock valued at $142,000 after purchasing an additional 1,050 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 1,329 shares during the period. Corient Private Wealth LLC lifted its stake in shares of UiPath by 5.6% in the 4th quarter. Corient Private Wealth LLC now owns 27,283 shares of the company’s stock worth $447,000 after purchasing an additional 1,455 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in shares of UiPath by 14.0% in the second quarter. Wedbush Securities Inc. now owns 11,920 shares of the company’s stock worth $130,000 after buying an additional 1,465 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Company Profile

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.