UiPath (NYSE:PATH) Releases Earnings Results, Beats Estimates By $0.05 EPS

UiPath (NYSE:PATH) posted its quarterly earnings data on Wednesday. The healthcare company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05, Briefing.com reports. The business had revenue of $287.31 million during the quarter, compared to the consensus estimate of $281.48 million. UiPath had a negative return on equity of 7.56% and a negative net margin of 15.47%. UiPath’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the company earned ($0.18) earnings per share. UiPath updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

UiPath Trading Up 11.5 %

Shares of NYSE PATH opened at $18.08 on Friday. The firm has a market cap of $10.15 billion, a P/E ratio of -56.50 and a beta of 0.69. UiPath has a 1-year low of $10.40 and a 1-year high of $19.94. The business’s 50 day moving average is $16.42 and its 200-day moving average is $16.08.

Analysts Set New Price Targets

A number of research firms recently issued reports on PATH. Mizuho increased their price objective on UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday. DA Davidson increased their price target on UiPath from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada increased their price target on UiPath from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday. Canaccord Genuity Group increased their price target on UiPath from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company cut UiPath from an “overweight” rating to an “equal weight” rating and set a $20.00 price target for the company. in a research report on Friday, June 9th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.84.

Insider Transactions at UiPath

In other news, CFO Ashim Gupta sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $15.52, for a total transaction of $620,800.00. Following the transaction, the chief financial officer now owns 1,344,047 shares in the company, valued at $20,859,609.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other UiPath news, Director Rich Wong sold 56,549 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $17.97, for a total transaction of $1,016,185.53. Following the transaction, the director now owns 879,693 shares in the company, valued at approximately $15,808,083.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $15.52, for a total value of $620,800.00. Following the transaction, the chief financial officer now owns 1,344,047 shares in the company, valued at approximately $20,859,609.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,000 shares of company stock worth $3,892,635. Company insiders own 31.03% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently added to or reduced their stakes in PATH. Raymond James Financial Services Advisors Inc. increased its stake in UiPath by 3.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock worth $885,000 after acquiring an additional 1,506 shares during the period. MetLife Investment Management LLC bought a new position in shares of UiPath in the 1st quarter valued at $184,000. BlackRock Inc. increased its stake in shares of UiPath by 1.9% in the 1st quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock valued at $114,786,000 after purchasing an additional 99,242 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of UiPath in the 1st quarter valued at $534,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of UiPath in the 1st quarter valued at $259,000. Institutional investors own 59.04% 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.