Royal Bank Of Canada Issues Positive Forecast for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its price target upped by analysts at Royal Bank Of Canada from $16.00 to $19.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 2.84% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company increased their price objective on shares of UiPath from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, December 4th. BMO Capital Markets upped their target price on UiPath from $13.00 to $17.00 and gave the stock a “market perform” rating in a report on Thursday, December 4th. Truist Financial set a $17.00 target price on UiPath in a research report on Thursday, December 4th. Mizuho boosted their price target on UiPath from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of UiPath in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $16.00.

UiPath Trading Down 2.7%

PATH opened at $18.48 on Wednesday. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 44.13, a PEG ratio of 7.16 and a beta of 1.10. UiPath has a 12-month low of $9.38 and a 12-month high of $19.84. The business’s fifty day simple moving average is $15.18 and its 200-day simple moving average is $13.17.

UiPath (NYSE:PATH) last released its quarterly earnings data on Wednesday, December 3rd. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $411.11 million during the quarter, compared to analyst estimates of $392.46 million. UiPath had a net margin of 14.79% and a return on equity of 3.83%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 earnings per share. On average, equities research analysts predict that UiPath will post -0.17 EPS for the current year.

Insider Transactions at UiPath

In related news, CEO Daniel Dines sold 45,000 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $19.21, for a total value of $864,450.00. Following the completion of the transaction, the chief executive officer directly owned 29,153,585 shares of the company’s stock, valued at $560,040,367.85. This trade represents a 0.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brad Brubaker sold 27,580 shares of UiPath stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $18.55, for a total transaction of $511,609.00. Following the completion of the sale, the insider owned 635,359 shares of the company’s stock, valued at $11,785,909.45. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,346,582 shares of company stock valued at $34,930,484 in the last quarter. 23.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of UiPath by 3.0% during the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock worth $495,029,000 after buying an additional 1,396,972 shares during the period. TFG Asset Management GP Ltd raised its stake in UiPath by 53.3% in the 2nd quarter. TFG Asset Management GP Ltd now owns 13,722,244 shares of the company’s stock worth $175,645,000 after acquiring an additional 4,772,244 shares during the last quarter. AQR Capital Management LLC lifted its position in UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock worth $145,732,000 after acquiring an additional 4,926,341 shares during the period. Federated Hermes Inc. grew its stake in UiPath by 40.7% during the 2nd quarter. Federated Hermes Inc. now owns 8,048,321 shares of the company’s stock valued at $103,019,000 after purchasing an additional 2,328,225 shares during the last quarter. Finally, State Street Corp grew its stake in UiPath by 5.0% during the 2nd quarter. State Street Corp now owns 8,032,345 shares of the company’s stock valued at $102,814,000 after purchasing an additional 378,851 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.