UiPath (NYSE:PATH) Trading Up 6.6% – What’s Next?

UiPath, Inc. (NYSE:PATH)’s stock price shot up 6.6% during trading on Friday . The company traded as high as $10.86 and last traded at $10.8750. Approximately 46,265,539 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 42,210,980 shares. The stock had previously closed at $10.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PATH shares. DA Davidson lowered their price target on UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, May 29th. Wall Street Zen lowered shares of UiPath from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Morgan Stanley decreased their target price on shares of UiPath from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, May 29th. BMO Capital Markets lowered their target price on shares of UiPath from $14.00 to $13.00 and set a “market perform” rating for the company in a research note on Monday, June 1st. Finally, UBS Group lowered their target price on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.80.

UiPath Stock Up 6.3%

The firm has a 50-day moving average price of $11.15 and a 200 day moving average price of $11.67. The firm has a market capitalization of $5.62 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.30 and a beta of 0.98.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $397.54 million. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities research analysts expect that UiPath, Inc. will post 0.4 earnings per share for the current year.

Institutional Trading of UiPath

Hedge funds have recently made changes to their positions in the business. HighMark Wealth Management LLC acquired a new position in shares of UiPath in the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. acquired a new stake in UiPath during the 4th quarter worth approximately $26,000. TD Waterhouse Canada Inc. lifted its holdings in UiPath by 1,270.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,782 shares of the company’s stock worth $29,000 after buying an additional 1,652 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new position in UiPath in the 4th quarter valued at approximately $37,000. Finally, AdvisorNet Financial Inc boosted its position in UiPath by 750.0% in the 1st quarter. AdvisorNet Financial Inc now owns 3,400 shares of the company’s stock valued at $38,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds 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. 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.