UiPath’s (PATH) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of UiPath (NYSE:PATH) in a report released on Friday, Benzinga reports. The brokerage currently has a $16.00 price objective on the healthcare company’s stock.

Several other brokerages also recently commented on PATH. KeyCorp reissued a sector weight rating on shares of UiPath in a research note on Thursday, May 30th. Macquarie downgraded UiPath from an outperform rating to a neutral rating and lowered their target price for the stock from $29.00 to $12.00 in a research note on Monday, June 3rd. William Blair downgraded UiPath from an outperform rating to a market perform rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lowered their price objective on UiPath from $28.00 to $19.00 and set an overweight rating for the company in a research note on Thursday, May 30th. Finally, Evercore ISI upped their price objective on UiPath from $13.00 to $16.00 and gave the company an in-line rating in a research note on Friday. Sixteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $17.71.

UiPath Trading Up 1.8 %

Shares of NYSE PATH opened at $12.19 on Friday. The company has a market cap of $6.98 billion, a price-to-earnings ratio of -76.19 and a beta of 0.87. UiPath has a 12 month low of $10.37 and a 12 month high of $27.87. The stock has a 50-day moving average price of $12.19 and a two-hundred day moving average price of $16.54.

UiPath (NYSE:PATH) last issued its earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. UiPath had a negative return on equity of 3.89% and a negative net margin of 8.13%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, sell-side analysts predict that UiPath will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On UiPath

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of UiPath by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after buying an additional 2,133,078 shares in the last quarter. Norges Bank bought a new position in shares of UiPath during the 4th quarter worth approximately $165,749,000. Pacer Advisors Inc. bought a new position in shares of UiPath during the 2nd quarter worth approximately $69,180,000. Dimensional Fund Advisors LP boosted its holdings in shares of UiPath by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock worth $35,296,000 after buying an additional 754,519 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of UiPath by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,553,264 shares of the healthcare company’s stock worth $63,423,000 after buying an additional 108,013 shares in the last quarter. 62.50% of the stock is currently owned by 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.