UiPath (NYSE:PATH) Shares Up 8.2% – Should You Buy?

UiPath, Inc. (NYSE:PATH) traded up 8.2% during mid-day trading on Monday . The company traded as high as $14.84 and last traded at $14.8780. Approximately 26,409,759 shares changed hands during trading, a decline of 43% from the average session volume of 46,592,535 shares. The stock had previously closed at $13.75.

Analyst Ratings Changes

PATH has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of UiPath from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Friday, September 4th. Needham & Company LLC increased their price target on UiPath from $15.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Weiss Ratings upgraded UiPath from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. Barclays lifted their price objective on UiPath from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, September 4th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $17.00 price target (up from $15.00) on shares of UiPath in a research note on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, UiPath currently has an average rating of “Hold” and an average target price of $16.75.

UiPath Trading Up 7.4%

The company’s 50 day moving average price is $14.20 and its two-hundred day moving average price is $12.06. The firm has a market cap of $7.65 billion, a PE ratio of 22.02, a PEG ratio of 1.35 and a beta of 1.02.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. UiPath had a return on equity of 9.70% and a net margin of 21.03%.The firm had revenue of $410.26 million during the quarter, compared to analyst estimates of $397.77 million. During the same period in the prior year, the business posted $0.15 EPS. UiPath’s revenue was up 13.3% on a year-over-year basis. Equities research analysts expect that UiPath, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at UiPath

In other UiPath news, CEO Daniel Dines sold 1,402,347 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $16.07, for a total value of $22,535,716.29. Following the completion of the sale, the chief executive officer owned 26,491,238 shares in the company, valued at $425,714,194.66. This represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 22.44% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DNB Asset Management AS boosted its holdings in UiPath by 266.4% in the 4th quarter. DNB Asset Management AS now owns 565,799 shares of the company’s stock worth $9,273,000 after buying an additional 411,395 shares during the period. BlackRock Inc. raised its holdings in UiPath by 7.2% during the second quarter. BlackRock Inc. now owns 46,153,124 shares of the company’s stock valued at $501,684,000 after acquiring an additional 3,097,822 shares during the period. Redwood Investment Management LLC bought a new stake in UiPath during the second quarter valued at about $1,183,000. First Trust Advisors LP lifted its position in shares of UiPath by 48.7% in the first quarter. First Trust Advisors LP now owns 1,624,148 shares of the company’s stock valued at $18,028,000 after acquiring an additional 532,157 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new position in shares of UiPath in the first quarter valued at about $1,143,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Company Profile

UiPath Inc (NYSE: PATH) develops enterprise automation software designed to help organizations automate repetitive, rules-based and increasingly complex business processes. Its platform combines robotic process automation (RPA), artificial intelligence, workflow orchestration and process intelligence to support automation across areas such as finance, customer service, human resources, information technology and operations.

The UiPath Platform includes tools for discovering and analyzing business processes, building and managing software robots, processing documents, testing applications and coordinating automated workflows.