UiPath (NYSE:PATH) Shares Up 8.8% – Time to Buy?

Shares of UiPath, Inc. (NYSE:PATH) shot up 8.8% on Monday . The company traded as high as $12.65 and last traded at $12.7480. 8,758,151 shares were traded during trading, a decline of 73% from the average session volume of 32,133,486 shares. The stock had previously closed at $11.72.

Analysts Set New Price Targets

A number of research firms have weighed in on PATH. BMO Capital Markets cut their price objective on shares of UiPath from $14.00 to $13.00 and set a “market perform” rating on the stock in a research report on Monday. Truist Financial cut their price target on shares of UiPath from $17.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, March 12th. Wall Street Zen cut shares of UiPath from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of UiPath in a report on Friday, March 27th. Finally, Bank of America upped their price target on shares of UiPath from $12.00 to $13.00 and gave the stock an “underperform” rating in a report on Friday. Two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.93.

UiPath Stock Performance

The company’s fifty day simple moving average is $10.73 and its 200-day simple moving average is $12.90. The company has a market capitalization of $6.76 billion, a P/E ratio of 21.49, a PEG ratio of 1.95 and a beta of 0.96.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, May 28th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The company had revenue of $418.38 million for the quarter, compared to analysts’ expectations of $397.54 million. During the same period in the prior year, the business earned $0.11 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts predict that UiPath, Inc. will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Noble Wealth Management PBC bought a new position in UiPath during the 4th quarter worth about $25,000. HighMark Wealth Management LLC bought a new position in UiPath during the 4th quarter worth about $25,000. Raleigh Capital Management Inc. bought a new position in UiPath during the 4th quarter worth about $26,000. TD Waterhouse Canada Inc. grew its holdings in UiPath by 1,270.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company’s stock worth $29,000 after acquiring an additional 1,652 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of UiPath during the fourth quarter valued at about $37,000. 62.50% of the stock is currently owned by institutional investors.

UiPath Company Profile

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.