UiPath’s (PATH) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of UiPath (NYSE:PATH) in a research note released on Friday morning, Benzinga reports.

A number of other equities research analysts have also issued reports on the stock. William Blair lowered shares of UiPath from an outperform rating to a market perform rating in a report on Thursday, May 30th. KeyCorp reiterated a sector weight rating on shares of UiPath in a report on Thursday, May 30th. Bank of America boosted their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a neutral rating in a report on Friday. Evercore ISI lowered their target price on shares of UiPath from $27.00 to $13.00 and set an in-line rating for the company in a research note on Thursday, May 30th. Finally, Canaccord Genuity Group reduced their price target on shares of UiPath from $30.00 to $19.00 and set a buy rating on the stock in a research note on Friday, May 31st. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, UiPath has a consensus rating of Hold and an average price target of $17.71.

UiPath Trading Down 6.0 %

PATH stock opened at $11.98 on Friday. The company has a market cap of $6.86 billion, a price-to-earnings ratio of -74.84 and a beta of 0.87. The firm has a 50-day moving average of $12.20 and a two-hundred day moving average of $16.71. UiPath has a 12 month low of $10.37 and a 12 month high of $27.87.

UiPath (NYSE:PATH) last posted its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm 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 2.97% and a negative net margin of 6.41%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) earnings per share. As a group, equities analysts forecast that UiPath will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PATH. Norges Bank acquired a new stake in UiPath in the 4th quarter valued at about $165,749,000. Pacer Advisors Inc. purchased a new stake in shares of UiPath during the second quarter worth approximately $69,180,000. Vanguard Group Inc. raised its holdings in UiPath by 5.6% in the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock valued at $911,741,000 after acquiring an additional 2,133,078 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in UiPath in the fourth quarter worth approximately $48,267,000. Finally, Renaissance Technologies LLC acquired a new position in UiPath during the 2nd quarter worth approximately $13,280,000. 62.50% of the stock is currently 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.