Morgan Stanley Reiterates “Equal Weight” Rating for UiPath (NYSE:PATH)

Morgan Stanley reissued their equal weight rating on shares of UiPath (NYSE:PATH) in a report published on Friday, Benzinga reports. They currently have a $15.00 price objective on the healthcare company’s stock.

Several other equities research analysts also recently issued reports on PATH. TD Cowen reaffirmed a hold rating and issued a $17.00 price target (down from $28.00) on shares of UiPath in a research report on Thursday, May 30th. Wells Fargo & Company raised their price target on UiPath from $14.00 to $15.00 and gave the company an equal weight rating in a research report on Friday. Truist Financial reaffirmed a hold rating and issued a $14.00 price target (down from $32.00) on shares of UiPath in a research report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price target on UiPath from $28.00 to $19.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Finally, BMO Capital Markets raised their price target on UiPath from $14.00 to $15.00 and gave the company a market perform rating in a research report on Friday. Sixteen analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $17.71.

UiPath Stock Performance

Shares of PATH stock opened at $12.19 on Friday. The stock’s 50 day simple moving average is $12.19 and its 200 day simple moving average is $16.54. UiPath has a twelve month low of $10.37 and a twelve month high of $27.87. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of -76.19 and a beta of 0.87.

UiPath (NYSE:PATH) last issued its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. UiPath had a negative return on equity of 3.89% and a negative net margin of 8.13%. The business had revenue of $316.00 million for the quarter, compared to the consensus estimate of $303.69 million. During the same period last year, the business earned ($0.09) EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, analysts forecast that UiPath will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On UiPath

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position 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 in the last quarter. Norges Bank acquired a new stake in shares of UiPath during the 4th quarter worth about $165,749,000. Pacer Advisors Inc. acquired a new stake in shares of UiPath during the 2nd quarter worth about $69,180,000. Dimensional Fund Advisors LP increased its position in shares of UiPath by 37.2% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of UiPath by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,553,264 shares of the healthcare company’s stock worth $63,423,000 after purchasing an additional 108,013 shares in the last quarter. Institutional investors 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.