UiPath (NASDAQ:PATH) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, Analyst Ratings Network reports. The firm presently has a $60.00 target price on the healthcare company’s stock. Wells Fargo & Company’s price objective would suggest a potential upside of 51.48% from the stock’s previous close.
Several other research analysts also recently commented on PATH. Berenberg Bank raised shares of UiPath from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Thursday, December 9th. Credit Suisse Group began coverage on shares of UiPath in a research note on Tuesday, November 16th. They issued an “outperform” rating and a $75.00 target price on the stock. Cleveland Research began coverage on shares of UiPath in a research note on Monday, November 29th. They issued a “neutral” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of UiPath in a research note on Wednesday, October 6th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $55.00 target price (down from $71.00) on shares of UiPath in a research note on Thursday, December 9th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, UiPath has an average rating of “Hold” and an average price target of $68.00.
Shares of PATH stock traded up $1.51 during trading hours on Thursday, hitting $39.61. 4,771,192 shares of the company’s stock were exchanged, compared to its average volume of 4,027,139. UiPath has a 12-month low of $37.80 and a 12-month high of $90.00. The business’s 50 day simple moving average is $47.83 and its 200-day simple moving average is $55.37.
UiPath (NASDAQ:PATH) last posted its quarterly earnings results on Wednesday, December 8th. The healthcare company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $220.82 million for the quarter, compared to analysts’ expectations of $209.23 million. The company’s quarterly revenue was up 49.9% compared to the same quarter last year. On average, research analysts predict that UiPath will post -0.79 EPS for the current year.
In related news, CAO Hitesh Ramani sold 9,464 shares of the company’s stock in a transaction dated Monday, January 3rd. The shares were sold at an average price of $43.26, for a total value of $409,412.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Thomas Neergaard Hansen sold 80,000 shares of the company’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $56.28, for a total transaction of $4,502,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 616,060 shares of company stock worth $30,091,295.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in UiPath by 17.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,721 shares of the healthcare company’s stock valued at $91,000 after acquiring an additional 250 shares during the period. Evoke Wealth LLC increased its position in shares of UiPath by 19.0% during the 3rd quarter. Evoke Wealth LLC now owns 1,706 shares of the healthcare company’s stock valued at $89,000 after purchasing an additional 272 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of UiPath during the 3rd quarter valued at about $25,000. Carroll Financial Associates Inc. purchased a new stake in shares of UiPath during the 3rd quarter valued at about $25,000. Finally, Signaturefd LLC increased its position in shares of UiPath by 1,240.0% during the 3rd quarter. Signaturefd LLC now owns 536 shares of the healthcare company’s stock valued at $28,000 after purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 31.82% 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, and Japan. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.