Evercore ISI Lowers UiPath (NASDAQ:PATH) Price Target to $23.00

UiPath (NASDAQ:PATHGet Rating) had its price target reduced by research analysts at Evercore ISI from $28.00 to $23.00 in a research note issued to investors on Thursday, The Fly reports. Evercore ISI’s price objective indicates a potential upside of 36.66% from the stock’s current price.

PATH has been the topic of several other research reports. BMO Capital Markets dropped their price objective on shares of UiPath from $52.00 to $29.00 and set a “market perform” rating on the stock in a research note on Thursday, March 31st. Cowen cut their target price on shares of UiPath from $43.00 to $27.00 in a research note on Friday, May 27th. Canaccord Genuity Group cut their target price on shares of UiPath from $55.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, March 31st. Zacks Investment Research upgraded shares of UiPath from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley reduced their price objective on shares of UiPath from $74.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, March 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.60.

PATH stock opened at $16.83 on Thursday. The firm has a 50 day moving average of $19.52 and a 200-day moving average of $32.10. UiPath has a 12-month low of $13.66 and a 12-month high of $82.30. The company has a market cap of $9.12 billion, a price-to-earnings ratio of -10.20 and a beta of 0.33.

UiPath (NASDAQ:PATHGet Rating) last issued its quarterly earnings data on Wednesday, June 1st. The healthcare company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. UiPath had a negative return on equity of 21.20% and a negative net margin of 58.91%. The firm had revenue of $245.07 million during the quarter, compared to the consensus estimate of $225.37 million. During the same period in the previous year, the firm posted ($0.81) EPS. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. As a group, equities research analysts expect that UiPath will post -0.46 earnings per share for the current year.

In other UiPath news, Director Kimberly Hammonds sold 2,521 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $28.19, for a total transaction of $71,066.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 31.88% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. ARK Investment Management LLC increased its holdings in shares of UiPath by 24.9% in the 1st quarter. ARK Investment Management LLC now owns 33,600,948 shares of the healthcare company’s stock valued at $725,444,000 after acquiring an additional 6,698,008 shares during the period. Altimeter Capital Management LP grew its stake in UiPath by 175.4% during the 1st quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock worth $71,579,000 after buying an additional 5,270,194 shares during the last quarter. Nikko Asset Management Americas Inc. grew its stake in UiPath by 27.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 21,026,818 shares of the healthcare company’s stock worth $457,123,000 after buying an additional 4,513,440 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in UiPath by 24.8% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,615,356 shares of the healthcare company’s stock worth $759,750,000 after buying an additional 3,500,987 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in UiPath during the 1st quarter worth $64,462,000. 52.19% of the stock is owned by institutional investors and hedge funds.

About UiPath (Get Rating)

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. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.

Read More

The Fly logo

Analyst Recommendations for UiPath (NASDAQ:PATH)

Want More Great Investing Ideas?

Receive News & Ratings for UiPath Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UiPath and related companies with MarketBeat.com's FREE daily email newsletter.