Evercore ISI Boosts UiPath (NYSE:PATH) Price Target to $16.00

UiPath (NYSE:PATH) had its price target increased by Evercore ISI from $13.00 to $16.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an in-line rating on the healthcare company’s stock.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley decreased their price target on UiPath from $25.00 to $15.00 and set an equal weight rating for the company in a research note on Thursday, May 30th. Mizuho cut their target price on UiPath from $25.00 to $14.00 and set a neutral rating on the stock in a research report on Thursday, May 30th. Canaccord Genuity Group cut their target price on UiPath from $30.00 to $19.00 and set a buy rating on the stock in a research report on Friday, May 31st. Scotiabank cut their target price on UiPath from $30.00 to $25.00 and set a sector perform rating on the stock in a research report on Wednesday, May 29th. Finally, Needham & Company LLC restated a hold rating on shares of UiPath in a research report on Friday. Sixteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $17.71.

UiPath Trading Up 1.8 %

Shares of PATH stock opened at $12.19 on Friday. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of -76.19 and a beta of 0.87. The stock has a 50-day moving average of $12.19 and a 200-day moving average of $16.54. UiPath has a 1-year low of $10.37 and a 1-year high of $27.87.

UiPath (NYSE:PATH) last issued its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to analysts’ expectations 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 prior year, the firm posted ($0.09) earnings per share. Sell-side analysts forecast that UiPath will post -0.22 earnings per share for the current year.

Institutional Trading of UiPath

Several institutional investors and hedge funds have recently modified their holdings of PATH. Russell Investments Group Ltd. raised its stake in shares of UiPath by 23.7% in the fourth quarter. Russell Investments Group Ltd. now owns 38,584 shares of the healthcare company’s stock worth $958,000 after purchasing an additional 7,382 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of UiPath during the fourth quarter valued at approximately $282,000. Victory Capital Management Inc. increased its position in shares of UiPath by 64.3% during the fourth quarter. Victory Capital Management Inc. now owns 74,351 shares of the healthcare company’s stock valued at $1,847,000 after acquiring an additional 29,111 shares during the last quarter. Amalgamated Bank increased its position in shares of UiPath by 8.3% during the fourth quarter. Amalgamated Bank now owns 82,148 shares of the healthcare company’s stock valued at $2,041,000 after acquiring an additional 6,303 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of UiPath by 35.8% during the fourth quarter. M&T Bank Corp now owns 20,861 shares of the healthcare company’s stock valued at $519,000 after acquiring an additional 5,495 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

UiPath Company Profile

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.