TD Cowen Lowers UiPath (NYSE:PATH) Price Target to $16.00

UiPath (NYSE:PATH) had its target price reduced by equities research analysts at TD Cowen from $17.00 to $16.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the healthcare company’s stock. TD Cowen’s price target suggests a potential upside of 32.34% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Scotiabank dropped their price objective on UiPath from $30.00 to $25.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 29th. Mizuho lowered their target price on UiPath from $25.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Macquarie cut UiPath from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $12.00 in a research note on Monday, June 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of UiPath in a research note on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research note on Friday. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.71.

UiPath Stock Performance

Shares of NYSE PATH traded down $0.65 during trading on Friday, reaching $12.09. The stock had a trading volume of 22,657,688 shares, compared to its average volume of 9,954,068. UiPath has a fifty-two week low of $10.37 and a fifty-two week high of $27.87. The business’s 50-day moving average price is $12.22 and its 200-day moving average price is $16.80. The company has a market cap of $6.92 billion, a P/E ratio of -75.56 and a beta of 0.87.

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

Hedge Funds Weigh In On UiPath

Several institutional investors have recently added to or reduced their stakes in PATH. Norges Bank acquired a new position in UiPath in the 4th quarter valued at about $165,749,000. Pacer Advisors Inc. acquired a new position in UiPath in the 2nd quarter valued at about $69,180,000. Vanguard Group Inc. grew its holdings in shares of UiPath by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 40,217,936 shares of the healthcare company’s stock worth $911,741,000 after acquiring an additional 2,133,078 shares during the period. Artisan Partners Limited Partnership purchased a new position in UiPath in the 4th quarter valued at approximately $48,267,000. Finally, Renaissance Technologies LLC purchased a new position in UiPath in the 2nd quarter valued at approximately $13,280,000. Institutional investors and hedge funds 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.