Needham & Company LLC Reaffirms Hold Rating for UiPath (NYSE:PATH)

Needham & Company LLC reissued their hold rating on shares of UiPath (NYSE:PATH) in a research report sent to investors on Friday,Benzinga reports.

Other equities analysts also recently issued reports about the company. Bank of America raised their price objective on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of UiPath in a research report on Friday, September 6th. Wells Fargo & Company dropped their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Barclays raised their target price on shares of UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Finally, BMO Capital Markets upped their price target on shares of UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.71.

UiPath Stock Down 0.9 %

NYSE:PATH opened at $14.81 on Friday. The company has a market cap of $8.14 billion, a P/E ratio of -92.56 and a beta of 0.94. The firm’s 50 day moving average is $13.10 and its two-hundred day moving average is $12.83. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87.

UiPath (NYSE:PATH) last issued 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. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The business had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. During the same period last year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts forecast that UiPath will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total value of $575,388.97. Following the completion of the transaction, the chief financial officer now directly owns 849,917 shares in the company, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Senvest Management LLC increased its holdings in shares of UiPath by 16.7% in the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock valued at $139,449,000 after acquiring an additional 1,559,500 shares during the last quarter. Geode Capital Management LLC boosted its holdings in UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock worth $93,619,000 after purchasing an additional 493,502 shares during the period. Pacer Advisors Inc. bought a new stake in UiPath during the second quarter valued at $69,180,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of UiPath by 554.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of UiPath by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,890,360 shares of the company’s stock worth $36,997,000 after buying an additional 291,171 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

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.