Canaccord Genuity Reiterates “Hold” Rating for UiPath (NASDAQ:PATH)

UiPath (NASDAQ:PATH)‘s stock had its “hold” rating restated by analysts at Canaccord Genuity in a research note issued to investors on Wednesday, The Fly reports. They presently have a $75.00 price target on the healthcare company’s stock, up from their prior price target of $70.00. Canaccord Genuity’s price objective indicates a potential upside of 1.31% from the stock’s current price. The analysts noted that the move was a valuation call.

Other analysts also recently issued reports about the stock. Barclays increased their price target on shares of UiPath from $71.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday. Macquarie began coverage on shares of UiPath in a research report on Monday, May 17th. They issued a “neutral” rating and a $69.00 price target on the stock. Cowen assumed coverage on shares of UiPath in a research report on Monday, May 17th. They issued an “outperform” rating and a $82.00 price target on the stock. Bank of America assumed coverage on UiPath in a research note on Monday, May 17th. They set a “buy” rating and a $85.00 target price for the company. Finally, DA Davidson assumed coverage on UiPath in a research note on Monday, May 17th. They set a “buy” rating and a $85.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $76.89.

Shares of NASDAQ:PATH opened at $74.03 on Wednesday. The company has a 50 day moving average price of $56.76. UiPath has a fifty-two week low of $61.50 and a fifty-two week high of $90.00.

UiPath (NASDAQ:PATH) last announced its quarterly earnings results on Monday, June 7th. The healthcare company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.07.

In related news, CEO Daniel Dines sold 1,383,168 shares of the firm’s stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $56.00, for a total value of $77,457,408.00. Also, major shareholder East Fund 2013 Sca Sic Digital sold 2,100,400 shares of the firm’s stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $56.00, for a total transaction of $117,622,400.00. Insiders have sold a total of 5,011,241 shares of company stock valued at $280,629,496 over the last ninety days.

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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Analyst Recommendations for UiPath (NASDAQ:PATH)

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