UiPath (NYSE:PATH) Price Target Raised to $18.00

UiPath (NYSE:PATH) had its target price boosted by JPMorgan Chase & Co. from $17.00 to $18.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 25.44% from the stock’s current price.

PATH has been the subject of several other research reports. Evercore ISI boosted their target price on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Bank of America boosted their target price on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company lowered their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a research note on Friday, September 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of UiPath in a research note on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.53.

UiPath Stock Performance

PATH traded down $0.60 during trading on Friday, reaching $14.35. 13,328,824 shares of the stock were exchanged, compared to its average volume of 9,568,255. The stock has a market cap of $7.89 billion, a P/E ratio of -71.75 and a beta of 0.94. UiPath has a twelve month low of $10.37 and a twelve month high of $27.87. The stock’s 50 day moving average price is $13.06 and its two-hundred day moving average price is $12.86.

UiPath (NYSE:PATH) last announced 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. 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 during the quarter, compared to analysts’ expectations of $303.69 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. UiPath’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts predict that UiPath will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Ashim Gupta sold 47,671 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the sale, the chief financial officer now owns 849,917 shares in the company, valued at approximately $10,258,498.19. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Senvest Management LLC boosted its stake in UiPath by 16.7% during the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after buying an additional 1,559,500 shares during the last quarter. Geode Capital Management LLC boosted its stake in UiPath by 7.2% during the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after buying an additional 493,502 shares during the last quarter. Pacer Advisors Inc. bought a new position in UiPath during the second quarter valued at approximately $69,180,000. Jacobs Levy Equity Management Inc. boosted its stake in UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock valued at $51,539,000 after buying an additional 3,411,562 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in UiPath by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock valued at $36,997,000 after buying an additional 291,171 shares during the last quarter. Hedge funds and other institutional investors 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.