UiPath’s (PATH) Hold Rating Reiterated at Needham & Company LLC

UiPath (NYSE:PATH)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports.

A number of other research analysts have also recently issued reports on PATH. BMO Capital Markets raised their price target on shares of UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Wells Fargo & Company raised their price target on shares of UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Barclays increased their price objective on shares of UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Bank of America increased their price objective on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Evercore ISI increased their price objective on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.71.

UiPath Stock Down 3.2 %

NYSE:PATH opened at $12.63 on Wednesday. UiPath has a 52 week low of $10.37 and a 52 week high of $27.87. The firm has a 50 day moving average of $12.44 and a 200 day moving average of $14.30. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -63.15 and a beta of 0.88.

UiPath (NYSE:PATH) last posted its earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. UiPath’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. As a group, analysts expect that UiPath will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now directly owns 849,917 shares of the company’s stock, valued at $10,258,498.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.37% of the stock is owned by insiders.

Hedge Funds Weigh In On UiPath

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of UiPath by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after acquiring an additional 2,133,078 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of UiPath by 0.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 295,370 shares of the healthcare company’s stock valued at $6,696,000 after purchasing an additional 1,571 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of UiPath by 3,389.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the healthcare company’s stock valued at $1,131,000 after purchasing an additional 86,633 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of UiPath by 4.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 231,694 shares of the healthcare company’s stock valued at $5,240,000 after purchasing an additional 9,393 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of UiPath by 245.1% in the first quarter. Acadian Asset Management LLC now owns 45,700 shares of the healthcare company’s stock valued at $1,032,000 after purchasing an additional 32,456 shares in the last quarter. 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.