Royal Bank of Canada Reaffirms “Sector Perform” Rating for UiPath (NYSE:PATH)

UiPath (NYSE:PATH)‘s stock had its “sector perform” rating reissued by Royal Bank of Canada in a report issued on Friday, Benzinga reports. They currently have a $16.00 price target on the healthcare company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 23.65% from the company’s previous close.

A number of other research analysts also recently issued reports on PATH. Canaccord Genuity Group cut their price target on UiPath from $30.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Mizuho lowered their price target on UiPath from $25.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Morgan Stanley reiterated an “equal weight” rating and set a $15.00 price objective on shares of UiPath in a research note on Friday. DA Davidson cut their price target on UiPath from $24.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Wells Fargo & Company lifted their price target on UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.65.

UiPath Price Performance

Shares of NYSE PATH traded up $0.20 during mid-day trading on Friday, reaching $12.94. The company’s stock had a trading volume of 5,052,699 shares, compared to its average volume of 9,851,714. The firm has a market capitalization of $7.41 billion, a PE ratio of -83.06 and a beta of 0.87. The stock has a fifty day moving average of $12.22 and a two-hundred day moving average of $16.80. UiPath has a 52 week low of $10.37 and a 52 week high of $27.87.

UiPath (NYSE:PATH) last announced its quarterly earnings results on Thursday, September 5th. The healthcare company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) earnings per share. Analysts anticipate that UiPath will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On UiPath

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its stake in shares of UiPath by 3.1% in the 4th quarter. Intech Investment Management LLC now owns 14,324 shares of the healthcare company’s stock valued at $356,000 after purchasing an additional 426 shares in the last quarter. Global Financial Private Client LLC increased its stake in shares of UiPath by 9.3% in the first quarter. Global Financial Private Client LLC now owns 6,471 shares of the healthcare company’s stock valued at $144,000 after purchasing an additional 551 shares during the period. Principal Financial Group Inc. increased its stake in shares of UiPath by 1.7% in the first quarter. Principal Financial Group Inc. now owns 36,772 shares of the healthcare company’s stock valued at $834,000 after purchasing an additional 622 shares during the period. GAMMA Investing LLC boosted its holdings in shares of UiPath by 40.2% in the first quarter. GAMMA Investing LLC now owns 2,204 shares of the healthcare company’s stock valued at $50,000 after acquiring an additional 632 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of UiPath by 46.0% in the first quarter. Lindbrook Capital LLC now owns 2,027 shares of the healthcare company’s stock valued at $46,000 after acquiring an additional 639 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.