UiPath (NYSE:PATH) Trading 3.7% Higher

UiPath Inc. (NYSE:PATH)’s share price rose 3.7% during mid-day trading on Tuesday . The company traded as high as $19.61 and last traded at $19.58. Approximately 1,739,844 shares were traded during trading, a decline of 80% from the average daily volume of 8,776,809 shares. The stock had previously closed at $18.89.

Wall Street Analysts Forecast Growth

PATH has been the subject of several research analyst reports. Mizuho raised their target price on shares of UiPath from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Bank of America upped their price target on UiPath from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Scotiabank upped their target price on UiPath from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Thursday, March 14th. Morgan Stanley lifted their price target on UiPath from $17.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of UiPath in a research note on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, UiPath presently has an average rating of “Moderate Buy” and a consensus target price of $27.41.

UiPath Stock Performance

The stock has a market cap of $11.17 billion, a P/E ratio of -115.17 and a beta of 0.96. The firm has a 50 day simple moving average of $22.66 and a two-hundred day simple moving average of $21.54.

UiPath (NYSE:PATH) last announced its quarterly earnings data on Wednesday, March 13th. The healthcare company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. UiPath had a negative return on equity of 3.29% and a negative net margin of 6.87%. The business had revenue of $405.25 million during the quarter, compared to analyst estimates of $383.32 million. As a group, equities research analysts predict that UiPath Inc. will post -0.04 EPS for the current year.

Insider Buying and Selling

In related news, CFO Ashim Gupta sold 16,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.84, for a total transaction of $365,440.00. Following the transaction, the chief financial officer now directly owns 87,505 shares of the company’s stock, valued at $1,998,614.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 72,000 shares of company stock valued at $1,591,360. Company insiders own 31.03% of the company’s stock.

Institutional Investors Weigh In On UiPath

Institutional investors have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new position in shares of UiPath during the 4th quarter valued at about $25,000. HighMark Wealth Management LLC acquired a new position in UiPath during the fourth quarter valued at approximately $27,000. Cypress Capital Management LLC WY bought a new position in shares of UiPath in the fourth quarter valued at approximately $29,000. Fifth Third Bancorp lifted its stake in shares of UiPath by 2,005.3% in the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock worth $34,000 after buying an additional 1,905 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of UiPath during the 4th quarter worth $36,000. 62.50% of the stock is currently 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.