UiPath (NASDAQ:PATH) was upgraded by Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Thursday, PriceTargets.com reports. The brokerage currently has a $64.00 price target on the healthcare company’s stock. Berenberg Bank’s price target suggests a potential upside of 45.29% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Credit Suisse Group started coverage on UiPath in a research note on Tuesday, November 16th. They issued an “outperform” rating and a $75.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price objective on shares of UiPath in a research note on Wednesday, October 6th. Wells Fargo & Company lowered their target price on UiPath from $75.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 8th. They noted that the move was a valuation call. Morgan Stanley raised UiPath from an “equal weight” rating to an “overweight” rating and set a $74.00 target price for the company in a research note on Friday, December 3rd. Finally, Royal Bank of Canada lowered their target price on UiPath from $74.00 to $65.00 and set a “sector perform” rating for the company in a research note on Thursday, October 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.55.
NASDAQ:PATH opened at $44.05 on Thursday. UiPath has a 52 week low of $42.02 and a 52 week high of $90.00. The stock’s fifty day moving average is $51.20 and its two-hundred day moving average is $60.00.
UiPath (NASDAQ:PATH) last issued its quarterly earnings data on Wednesday, December 8th. The healthcare company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.13). The firm had revenue of $220.82 million during the quarter, compared to analyst estimates of $209.23 million. The firm’s revenue was up 49.9% compared to the same quarter last year. On average, research analysts predict that UiPath will post -0.82 EPS for the current fiscal year.
In other UiPath news, CRO Thomas Neergaard Hansen sold 80,000 shares of the firm’s stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $56.28, for a total value of $4,502,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Dines sold 16,993 shares of the firm’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $56.01, for a total value of $951,777.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,357 shares of company stock worth $14,173,450. Insiders own 28.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PATH. Comerica Bank raised its stake in UiPath by 7.6% in the 3rd quarter. Comerica Bank now owns 7,672 shares of the healthcare company’s stock valued at $390,000 after purchasing an additional 539 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of UiPath in the 3rd quarter worth about $24,841,000. Centiva Capital LP bought a new stake in shares of UiPath in the 3rd quarter worth about $231,000. Consolidated Planning Corp acquired a new position in shares of UiPath in the 3rd quarter valued at about $96,000. Finally, Captrust Financial Advisors boosted its holdings in shares of UiPath by 48.3% in the 3rd quarter. Captrust Financial Advisors now owns 1,706 shares of the healthcare company’s stock valued at $90,000 after buying an additional 556 shares during the period. 31.82% of the stock is owned by institutional investors and hedge funds.
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, 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.
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