UiPath (NYSE:PATH) Announces Earnings Results

UiPath (NYSE:PATH) released its quarterly earnings data on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02, FiscalAI reports. UiPath had a return on equity of 3.83% and a net margin of 14.79%.The firm had revenue of $411.11 million for the quarter, compared to analyst estimates of $392.46 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year.

UiPath Stock Performance

Shares of NYSE PATH opened at $18.50 on Friday. The stock has a market capitalization of $9.83 billion, a P/E ratio of 44.05, a PEG ratio of 5.50 and a beta of 1.10. The stock’s fifty day moving average is $14.80 and its 200 day moving average is $13.03. UiPath has a 52 week low of $9.38 and a 52 week high of $18.74.

Insider Transactions at UiPath

In related news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $15.07, for a total transaction of $678,150.00. Following the sale, the chief executive officer owned 29,288,585 shares in the company, valued at approximately $441,378,975.95. This trade represents a 0.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Hitesh Ramani sold 5,000 shares of UiPath stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $15.47, for a total transaction of $77,350.00. Following the completion of the transaction, the chief accounting officer directly owned 182,776 shares in the company, valued at $2,827,544.72. This trade represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,319,002 shares of company stock worth $34,094,875 over the last quarter. Corporate insiders own 23.19% of the company’s stock.

Institutional Investors Weigh In On UiPath

A number of large investors have recently modified their holdings of PATH. AQR Capital Management LLC increased its stake in shares of UiPath by 76.0% in the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock valued at $145,732,000 after purchasing an additional 4,926,341 shares during the last quarter. State Street Corp boosted its stake in UiPath by 5.0% in the second quarter. State Street Corp now owns 8,032,345 shares of the company’s stock valued at $102,814,000 after buying an additional 378,851 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in UiPath by 8.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,710,035 shares of the company’s stock valued at $89,761,000 after acquiring an additional 526,416 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in UiPath by 13.4% during the third quarter. Dimensional Fund Advisors LP now owns 5,505,064 shares of the company’s stock worth $73,627,000 after acquiring an additional 648,624 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of UiPath by 122.3% in the second quarter. Canada Pension Plan Investment Board now owns 4,021,200 shares of the company’s stock worth $51,471,000 after acquiring an additional 2,212,000 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PATH. Wells Fargo & Company increased their price target on UiPath from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday. Mizuho upped their price objective on shares of UiPath from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday. Barclays raised their target price on shares of UiPath from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday. DA Davidson set a $15.00 price target on shares of UiPath in a research note on Thursday. Finally, Truist Financial set a $17.00 price target on shares of UiPath in a research report on Thursday. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.64.

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.