UiPath (NYSE:PATH) Price Target Raised to $18.00 at Bank of America

UiPath (NYSE:PATH) had its target price upped by equities research analysts at Bank of America from $16.00 to $18.00 in a report released on Friday, Benzinga reports. The firm presently has a “neutral” rating on the healthcare company’s stock. Bank of America‘s price objective points to a potential upside of 41.29% from the company’s previous close.

A number of other brokerages have also recently issued reports on PATH. KeyCorp restated a “sector weight” rating on shares of UiPath in a research note on Thursday, May 30th. William Blair cut UiPath from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 30th. Canaccord Genuity Group lowered their price objective on UiPath from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Morgan Stanley lowered their price objective on UiPath from $25.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Finally, Mizuho decreased their price target on UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.12.

UiPath Price Performance

NYSE PATH opened at $12.74 on Friday. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of -79.63 and a beta of 0.87. UiPath has a one year low of $10.37 and a one year high of $27.87. The business’s fifty day moving average is $12.22 and its 200-day moving average is $16.80.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in UiPath by 23.7% in the fourth quarter. Russell Investments Group Ltd. now owns 38,584 shares of the healthcare company’s stock worth $958,000 after buying an additional 7,382 shares in the last quarter. Van ECK Associates Corp purchased a new stake in UiPath in the fourth quarter worth approximately $282,000. Victory Capital Management Inc. boosted its stake in UiPath by 64.3% in the fourth quarter. Victory Capital Management Inc. now owns 74,351 shares of the healthcare company’s stock worth $1,847,000 after buying an additional 29,111 shares in the last quarter. Amalgamated Bank boosted its stake in UiPath by 8.3% in the fourth quarter. Amalgamated Bank now owns 82,148 shares of the healthcare company’s stock worth $2,041,000 after buying an additional 6,303 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in UiPath by 35.8% in the fourth quarter. M&T Bank Corp now owns 20,861 shares of the healthcare company’s stock worth $519,000 after buying an additional 5,495 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.