BMO Capital Markets Issues Positive Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its price objective hoisted by BMO Capital Markets from $15.00 to $16.00 in a research report report published on Friday morning,Benzinga reports. They currently have a market perform rating on the stock.

PATH has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research report on Friday. Barclays boosted their target price on shares of UiPath from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. TD Cowen decreased their target price on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on shares of UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research report on Friday. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.71.

UiPath Price Performance

NYSE PATH opened at $14.81 on Friday. The company’s 50 day simple moving average is $13.10 and its 200 day simple moving average is $12.83. UiPath has a 12 month low of $10.37 and a 12 month high of $27.87. The company has a market capitalization of $8.14 billion, a P/E ratio of -92.56 and a beta of 0.94.

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

Insider Transactions at UiPath

In other UiPath 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 5.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.37% of the stock is owned by insiders.

Institutional Trading of UiPath

A number of hedge funds have recently modified their holdings of PATH. Future Financial Wealth Managment LLC acquired a new stake in shares of UiPath in the 3rd quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of UiPath during the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. bought a new position in shares of UiPath during the 2nd quarter worth approximately $28,000. Quarry LP grew its stake in shares of UiPath by 654.4% in the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares in the last quarter. Finally, Redwood Wealth Management Group LLC bought a new position in shares of UiPath in the second quarter valued at $43,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.