Wall Street Zen Downgrades UiPath (NYSE:PATH) to Buy

UiPath (NYSE:PATH) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

PATH has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of UiPath from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI increased their price objective on UiPath from $15.00 to $17.00 and gave the company an “in-line” rating in a report on Thursday. Zacks Research cut UiPath from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Cowen reaffirmed a “hold” rating on shares of UiPath in a research report on Thursday. Finally, BMO Capital Markets increased their price target on UiPath from $13.00 to $17.00 and gave the company a “market perform” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, UiPath presently has an average rating of “Reduce” and a consensus target price of $15.46.

UiPath Price Performance

PATH opened at $18.67 on Friday. The business’s 50-day moving average is $14.93 and its two-hundred day moving average is $13.08. UiPath has a 1 year low of $9.38 and a 1 year high of $18.98. The firm has a market capitalization of $9.91 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 6.93 and a beta of 1.10.

UiPath (NYSE:PATH) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. UiPath had a net margin of 14.79% and a return on equity of 3.83%. The business had revenue of $411.11 million during the quarter, compared to analyst estimates of $392.46 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that UiPath will post -0.17 EPS for the current year.

Insider Activity

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

Institutional Trading of UiPath

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of UiPath by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock worth $495,029,000 after purchasing an additional 1,396,972 shares during the last quarter. TFG Asset Management GP Ltd grew its position in UiPath by 53.3% during the 2nd quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock worth $175,645,000 after purchasing an additional 4,772,244 shares during the period. AQR Capital Management LLC raised its stake in shares of UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock valued at $145,732,000 after buying an additional 4,926,341 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of UiPath by 40.7% during the 2nd quarter. Federated Hermes Inc. now owns 8,048,321 shares of the company’s stock valued at $103,019,000 after buying an additional 2,328,225 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of UiPath by 5.0% in the 2nd 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 during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.