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

Needham & Company LLC reiterated their hold rating on shares of UiPath (NYSE:PATH) in a research report report published on Wednesday, Benzinga reports.

A number of other research firms have also recently weighed in on PATH. Morgan Stanley restated an “equal weight” rating and set a $15.00 target price on shares of UiPath in a research note on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research note on Friday, September 6th. Bank of America boosted their price target 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. TD Cowen decreased their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Finally, Wells Fargo & Company boosted their price target 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. Sixteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.47.

UiPath Stock Performance

PATH opened at $12.34 on Wednesday. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The firm’s fifty day moving average is $12.50 and its 200 day moving average is $14.15. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -61.70 and a beta of 0.88.

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

Insider Activity at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the company’s 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 in the company, valued at approximately $10,258,498.19. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

Several hedge funds have recently added to or reduced their stakes in PATH. Pacer Advisors Inc. bought a new position in UiPath during the 2nd quarter valued at about $69,180,000. Vanguard Group Inc. grew its holdings in UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after purchasing an additional 2,133,078 shares during the last quarter. Renaissance Technologies LLC bought a new position in UiPath during the 2nd quarter valued at about $13,280,000. AQR Capital Management LLC grew its holdings in UiPath by 120.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,633,393 shares of the healthcare company’s stock valued at $20,385,000 after purchasing an additional 892,845 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock valued at $35,296,000 after buying an additional 754,519 shares during the period. 62.50% of the stock is currently owned by institutional investors.

About UiPath

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.