UiPath (NASDAQ:PATH) Downgraded by Zacks Investment Research to “Sell”

UiPath (NASDAQ:PATHGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “UiPath Inc. offers an end-to-end platform for automation, combining Robotic Process Automation solution for digital business operations. UiPath Inc. is based in New York, United States. “

A number of other research analysts also recently weighed in on PATH. Barclays lowered their target price on UiPath from $36.00 to $25.00 in a report on Friday, May 20th. KeyCorp cut their target price on UiPath from $34.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. Credit Suisse Group cut their target price on UiPath from $57.50 to $45.00 in a research report on Thursday, June 2nd. Canaccord Genuity Group cut their price target on UiPath from $55.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, March 31st. Finally, Oppenheimer lowered their price objective on UiPath from $35.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, June 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.70.

PATH opened at $21.36 on Thursday. UiPath has a 52-week low of $13.66 and a 52-week high of $74.94. The stock has a market capitalization of $11.58 billion, a PE ratio of -27.74 and a beta of 0.33. The stock’s 50 day moving average price is $18.54 and its 200-day moving average price is $30.91.

UiPath (NASDAQ:PATHGet Rating) last released its earnings results on Wednesday, June 1st. The healthcare company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. UiPath had a negative return on equity of 18.47% and a negative net margin of 42.95%. The firm had revenue of $245.07 million for the quarter, compared to analysts’ expectations of $225.37 million. During the same period in the prior year, the firm posted ($0.81) earnings per share. The company’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, analysts forecast that UiPath will post -0.46 earnings per share for the current fiscal year.

In other UiPath news, Director Kimberly Hammonds sold 2,521 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $28.19, for a total value of $71,066.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.88% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in PATH. Bank of America Corp DE grew its holdings in UiPath by 45.1% in the first quarter. Bank of America Corp DE now owns 1,648,031 shares of the healthcare company’s stock valued at $35,582,000 after purchasing an additional 511,855 shares during the last quarter. Verition Fund Management LLC lifted its position in UiPath by 859.7% during the first quarter. Verition Fund Management LLC now owns 108,305 shares of the healthcare company’s stock worth $2,338,000 after buying an additional 97,020 shares during the period. Walleye Capital LLC purchased a new position in UiPath during the first quarter worth about $2,403,000. Advisors Asset Management Inc. lifted its position in UiPath by 74.4% during the first quarter. Advisors Asset Management Inc. now owns 6,495 shares of the healthcare company’s stock worth $140,000 after buying an additional 2,771 shares during the period. Finally, Altimeter Capital Management LP raised its holdings in shares of UiPath by 175.4% in the 1st quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock worth $71,579,000 after purchasing an additional 5,270,194 shares during the period. 52.19% of the stock is currently owned by institutional investors and hedge funds.

UiPath Company Profile (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.

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