Brokerages Set UiPath Inc. (NYSE:PATH) Target Price at $27.41

Shares of UiPath Inc. (NYSE:PATH) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $27.41.

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of UiPath from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Bank of America boosted their price target on shares of UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of UiPath in a research report on Monday, April 1st. KeyCorp assumed coverage on shares of UiPath in a report on Monday, April 8th. They issued an “overweight” rating and a $27.00 target price on the stock. Finally, Morgan Stanley boosted their target price on shares of UiPath from $17.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th.

Insider Activity

In other news, CFO Ashim Gupta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $21.66, for a total value of $866,400.00. Following the sale, the chief financial officer now directly owns 660,762 shares of the company’s stock, valued at approximately $14,312,104.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 31.03% of the company’s stock.

Institutional Investors Weigh In On UiPath

Several large investors have recently added to or reduced their stakes in PATH. Norges Bank purchased a new stake in UiPath during the 4th quarter worth approximately $165,749,000. Vanguard Group Inc. increased its stake in UiPath by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 37,750,773 shares of the healthcare company’s stock worth $645,916,000 after buying an additional 2,673,718 shares during the period. Artisan Partners Limited Partnership purchased a new stake in UiPath during the 4th quarter worth approximately $48,267,000. Glenmede Trust Co. NA increased its stake in UiPath by 3,273.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,564,985 shares of the healthcare company’s stock worth $26,777,000 after buying an additional 1,518,592 shares during the period. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in UiPath during the 4th quarter worth approximately $15,543,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Stock Up 1.8 %

PATH stock opened at $19.84 on Friday. The stock has a market capitalization of $11.29 billion, a P/E ratio of -116.40 and a beta of 1.01. The firm has a 50-day simple moving average of $21.75 and a 200-day simple moving average of $21.72. UiPath has a 52 week low of $12.89 and a 52 week high of $27.87.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. The firm had revenue of $405.25 million for the quarter, compared to analyst estimates of $383.32 million. UiPath had a negative net margin of 6.87% and a negative return on equity of 3.29%. On average, analysts expect that UiPath will post -0.04 earnings per share for the current year.

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.