Morgan Stanley Issues Positive Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its price objective raised by analysts at Morgan Stanley from $15.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 8.92% from the company’s previous close.

PATH has been the subject of a number of other research reports. Bank of America increased their price target on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Friday. Evercore ISI lifted their price target on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. BMO Capital Markets upped their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday. Finally, TD Cowen reduced their price objective on UiPath from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, UiPath has an average rating of “Hold” and an average price target of $17.65.

UiPath Stock Performance

NYSE PATH traded down $0.26 during trading hours on Friday, reaching $14.69. The company’s stock had a trading volume of 19,116,779 shares, compared to its average volume of 9,599,215. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The stock has a market cap of $8.08 billion, a PE ratio of -73.50 and a beta of 0.94. The company’s 50-day moving average is $13.06 and its two-hundred day moving average is $12.86.

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

Insider Transactions at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.07, for a total value of $575,388.97. Following the sale, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Several hedge funds have recently made changes to their positions in PATH. Future Financial Wealth Managment LLC bought a new stake in UiPath during the third quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of UiPath in the 3rd quarter worth $26,000. Hantz Financial Services Inc. acquired a new stake in shares of UiPath during the second quarter worth $28,000. Quarry LP lifted its holdings in shares of UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares during the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in UiPath during the 2nd quarter worth about $43,000. Institutional investors and hedge funds 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.