UiPath (NYSE:PATH) Shares Down 7.7% – Here’s What Happened

UiPath, Inc. (NYSE:PATH) dropped 7.7% on Wednesday . The stock traded as low as $11.00 and last traded at $11.1140. Approximately 6,395,136 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 41,434,879 shares. The stock had previously closed at $12.04.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PATH shares. Wall Street Zen downgraded UiPath from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Morgan Stanley lowered their price objective on shares of UiPath from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, May 29th. Weiss Ratings restated a “hold (c-)” rating on shares of UiPath in a report on Friday, July 10th. Bank of America lifted their target price on shares of UiPath from $12.00 to $13.00 and gave the stock an “underperform” rating in a research report on Friday, May 29th. Finally, DA Davidson reduced their price target on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.80.

UiPath Stock Performance

The company’s fifty day moving average price is $11.14 and its two-hundred day moving average price is $11.67. The firm has a market capitalization of $5.29 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.28 and a beta of 0.98.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. UiPath had a return on equity of 7.92% and a net margin of 19.58%.The firm had revenue of $418.38 million during the quarter, compared to the consensus estimate of $397.54 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities analysts expect that UiPath, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PATH. Royal Bank of Canada grew its stake in UiPath by 8.4% during the 1st quarter. Royal Bank of Canada now owns 140,774 shares of the company’s stock worth $1,450,000 after buying an additional 10,872 shares during the last quarter. Woodline Partners LP lifted its stake in UiPath by 69.6% in the first quarter. Woodline Partners LP now owns 22,566 shares of the company’s stock valued at $232,000 after buying an additional 9,257 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in UiPath by 5.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,477,730 shares of the company’s stock valued at $15,221,000 after buying an additional 75,737 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of UiPath during the second quarter valued at $169,000. Finally, Prudential Financial Inc. boosted its holdings in shares of UiPath by 90.1% during the second quarter. Prudential Financial Inc. now owns 34,029 shares of the company’s stock valued at $436,000 after acquiring an additional 16,125 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

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. 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.