Barclays Cuts UiPath (NASDAQ:PATH) Price Target to $57.00

UiPath (NASDAQ:PATH) had its price objective decreased by Barclays from $61.00 to $57.00 in a research report report published on Wednesday morning, The Fly reports.

PATH has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of UiPath from a hold rating to a sell rating in a report on Tuesday, December 14th. Berenberg Bank upgraded shares of UiPath from a hold rating to a buy rating and set a $64.00 price target for the company in a report on Thursday, December 9th. Morgan Stanley upgraded shares of UiPath from an equal weight rating to an overweight rating and set a $74.00 price target for the company in a report on Friday, December 3rd. KeyCorp dropped their target price on shares of UiPath from $86.00 to $69.00 and set an overweight rating for the company in a report on Thursday, December 9th. They noted that the move was a valuation call. Finally, Cleveland Research assumed coverage on shares of UiPath in a report on Monday, November 29th. They issued a neutral rating for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $67.82.

PATH opened at $36.73 on Wednesday. The company’s 50 day simple moving average is $46.03 and its two-hundred day simple moving average is $54.09. UiPath has a 1-year low of $35.61 and a 1-year high of $90.00.

UiPath (NASDAQ:PATH) last announced its quarterly earnings results on Wednesday, December 8th. The healthcare company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.13). The firm had revenue of $220.82 million for the quarter, compared to analyst estimates of $209.23 million. UiPath’s quarterly revenue was up 49.9% on a year-over-year basis. Sell-side analysts forecast that UiPath will post -0.79 EPS for the current fiscal year.

In other news, EVP Ted Kummert sold 155,318 shares of UiPath stock in a transaction on Friday, December 10th. The shares were sold at an average price of $43.74, for a total transaction of $6,793,609.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $56.48, for a total transaction of $2,259,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 616,060 shares of company stock valued at $30,091,295. Corporate insiders own 28.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arkadios Wealth Advisors purchased a new stake in UiPath in the third quarter valued at $109,000. Jasper Ridge Partners L.P. purchased a new stake in UiPath in the second quarter valued at $1,021,000. Blueshift Asset Management LLC acquired a new position in UiPath in the second quarter valued at $217,000. Greenspring Associates LLC acquired a new position in UiPath in the second quarter valued at $125,139,000. Finally, DekaBank Deutsche Girozentrale increased its stake in UiPath by 2,705.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 547,141 shares of the healthcare company’s stock valued at $28,850,000 after purchasing an additional 527,641 shares during the period. 46.54% of the stock is owned by hedge funds and other 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, and Japan. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.

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