UiPath (NYSE:PATH) PT Lowered to $17.00 at JPMorgan Chase & Co.

UiPath (NYSE:PATH) had its price objective dropped by analysts at JPMorgan Chase & Co. from $19.00 to $17.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the healthcare company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 42.50% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a research report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of UiPath in a report on Friday, September 6th. Evercore ISI upped their target price on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company reduced their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. Sixteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, UiPath has an average rating of “Hold” and a consensus price target of $17.47.

UiPath Stock Performance

Shares of NYSE:PATH traded down $0.71 during trading on Wednesday, hitting $11.93. The company’s stock had a trading volume of 8,243,720 shares, compared to its average volume of 9,719,182. The business has a 50 day moving average price of $12.46 and a two-hundred day moving average price of $14.24. The company has a market capitalization of $6.56 billion, a PE ratio of -59.85 and a beta of 0.88. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87.

UiPath (NYSE:PATH) last released its quarterly earnings data on Thursday, September 5th. The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. As a group, equities analysts expect that UiPath will post -0.23 earnings per share for the current fiscal year.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,671 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.37% of the company’s stock.

Hedge Funds Weigh In On UiPath

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in UiPath by 5.6% during the first quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after purchasing an additional 2,133,078 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in UiPath by 0.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 295,370 shares of the healthcare company’s stock valued at $6,696,000 after purchasing an additional 1,571 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in UiPath by 3,389.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 89,189 shares of the healthcare company’s stock worth $1,131,000 after acquiring an additional 86,633 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in UiPath by 4.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 231,694 shares of the healthcare company’s stock worth $5,240,000 after acquiring an additional 9,393 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in UiPath by 245.1% during the 1st quarter. Acadian Asset Management LLC now owns 45,700 shares of the healthcare company’s stock worth $1,032,000 after acquiring an additional 32,456 shares in the last quarter. Hedge funds and other institutional investors own 62.50% 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, 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.