UiPath (NYSE:PATH) Trading Down 1.3% on Analyst Downgrade

UiPath Inc. (NYSE:PATHGet Free Report) dropped 1.3% during trading on Wednesday after Scotiabank lowered their price target on the stock from $30.00 to $25.00. Scotiabank currently has a sector perform rating on the stock. UiPath traded as low as $18.08 and last traded at $18.51. Approximately 3,758,182 shares traded hands during trading, a decline of 53% from the average daily volume of 7,985,105 shares. The stock had previously closed at $18.75.

Several other equities research analysts have also recently commented on PATH. Morgan Stanley boosted their price objective on shares of UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, March 14th. BMO Capital Markets increased their price objective on UiPath from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Thursday, March 14th. Barclays lifted their target price on UiPath from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 15th. Evercore ISI upped their price target on UiPath from $24.00 to $27.00 and gave the stock an “in-line” rating in a research report on Thursday, March 14th. Finally, JPMorgan Chase & Co. raised shares of UiPath from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $22.00 to $28.00 in a research note on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.12.

Read Our Latest Research Report on PATH

Insider Buying and Selling

In other UiPath news, CFO Ashim Gupta sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of the sale, the chief financial officer now directly owns 87,505 shares in the company, valued at $1,998,614.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 96,000 shares of company stock valued at $2,023,440. Company insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC increased its position in UiPath by 3.1% during the fourth quarter. Intech Investment Management LLC now owns 14,324 shares of the healthcare company’s stock worth $356,000 after acquiring an additional 426 shares during the period. 180 Wealth Advisors LLC grew its holdings in shares of UiPath by 0.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 188,950 shares of the healthcare company’s stock worth $4,497,000 after purchasing an additional 492 shares in the last quarter. Global Financial Private Client LLC increased its position in shares of UiPath by 9.3% in the first quarter. Global Financial Private Client LLC now owns 6,471 shares of the healthcare company’s stock worth $144,000 after purchasing an additional 551 shares during the period. Bleakley Financial Group LLC raised its stake in UiPath by 4.9% in the fourth quarter. Bleakley Financial Group LLC now owns 12,691 shares of the healthcare company’s stock valued at $315,000 after purchasing an additional 598 shares in the last quarter. Finally, Simplicity Solutions LLC grew its stake in UiPath by 4.9% during the fourth quarter. Simplicity Solutions LLC now owns 12,691 shares of the healthcare company’s stock worth $315,000 after buying an additional 598 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

UiPath Stock Performance

The firm’s fifty day simple moving average is $20.46 and its 200 day simple moving average is $22.16. The stock has a market capitalization of $10.52 billion, a P/E ratio of -108.88 and a beta of 1.01.

UiPath (NYSE:PATHGet Free Report) last announced its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. The business had revenue of $405.25 million for the quarter, compared to analysts’ expectations of $383.32 million. Analysts anticipate that UiPath Inc. will post -0.04 earnings per share for the current fiscal year.

About UiPath

(Get Free Report)

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.

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