UiPath (NYSE:PATH) Stock Rating Reaffirmed by Morgan Stanley

UiPath (NYSE:PATH)‘s stock had its “equal weight” rating reissued by investment analysts at Morgan Stanley in a report released on Friday, Benzinga reports. They currently have a $15.00 price objective on the healthcare company’s stock. Morgan Stanley’s price target points to a potential upside of 15.92% from the stock’s previous close.

A number of other research firms have also issued reports on PATH. TD Cowen reiterated a “hold” rating and issued a $17.00 target price (down from $28.00) on shares of UiPath in a report on Thursday, May 30th. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Friday. Bank of America lifted their price target on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday. Canaccord Genuity Group decreased their price target on UiPath from $30.00 to $19.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Scotiabank decreased their price target on UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a report on Wednesday, May 29th. Sixteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.65.

UiPath Stock Performance

Shares of NYSE PATH traded up $0.20 during trading on Friday, reaching $12.94. The stock had a trading volume of 5,052,699 shares, compared to its average volume of 9,851,714. The company has a market cap of $7.41 billion, a P/E ratio of -83.06 and a beta of 0.87. The business’s 50-day moving average price is $12.22 and its 200-day moving average price is $16.80. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87.

UiPath (NYSE:PATH) last released its earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. UiPath’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted ($0.09) earnings per share. Analysts forecast that UiPath will post -0.22 EPS for the current fiscal year.

Institutional Trading of UiPath

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in UiPath during the 2nd quarter valued at approximately $155,000. Advisory Alpha LLC purchased a new stake in UiPath during the 2nd quarter valued at approximately $131,000. Capital Impact Advisors LLC raised its stake in UiPath by 162.9% during the 2nd quarter. Capital Impact Advisors LLC now owns 36,400 shares of the healthcare company’s stock valued at $462,000 after acquiring an additional 22,553 shares during the last quarter. Sunbelt Securities Inc. raised its stake in UiPath by 15.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 20,970 shares of the healthcare company’s stock valued at $266,000 after acquiring an additional 2,792 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in UiPath by 2,495.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 682,078 shares of the healthcare company’s stock valued at $8,649,000 after acquiring an additional 655,798 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.