UiPath (NYSE:PATH) Stock Price Up 1.7%

UiPath Inc. (NYSE:PATH) traded up 1.7% during trading on Friday . The stock traded as high as $12.23 and last traded at $12.22. 1,373,520 shares changed hands during trading, a decline of 86% from the average session volume of 10,023,358 shares. The stock had previously closed at $12.02.

Analysts Set New Price Targets

PATH has been the topic of a number of research analyst reports. William Blair lowered shares of UiPath from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 30th. DA Davidson raised their target price on UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Truist Financial reiterated a “hold” rating and issued a $14.00 price objective (down previously from $32.00) on shares of UiPath in a research note on Thursday, May 30th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price on shares of UiPath in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of UiPath from $28.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, UiPath presently has a consensus rating of “Hold” and a consensus price target of $17.71.

UiPath Price Performance

The company has a 50-day simple moving average of $12.13 and a two-hundred day simple moving average of $16.40. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of -76.38 and a beta of 0.87.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The company had revenue of $316.00 million during the quarter, compared to the consensus estimate of $303.69 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The firm’s revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that UiPath Inc. will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake 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 purchasing an additional 2,133,078 shares during the last quarter. Norges Bank purchased a new position in shares of UiPath during the fourth quarter valued at about $165,749,000. Pacer Advisors Inc. purchased a new stake in shares of UiPath in the 2nd quarter worth about $69,180,000. Dimensional Fund Advisors LP raised its position in shares of UiPath by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,783,571 shares of the healthcare company’s stock worth $35,296,000 after purchasing an additional 754,519 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of UiPath by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,553,264 shares of the healthcare company’s stock valued at $63,423,000 after purchasing an additional 108,013 shares in the last quarter. 62.50% of the stock is 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.