UiPath (NASDAQ:PATH) Hits New 1-Year Low at $51.01

UiPath Inc. (NASDAQ:PATH) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $51.01 and last traded at $51.74, with a volume of 36982 shares traded. The stock had previously closed at $51.89.

A number of equities analysts have issued reports on the stock. Truist Securities raised their target price on shares of UiPath from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, June 9th. Barclays raised shares of UiPath from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $71.00 in a report on Friday. KeyCorp lifted their price target on UiPath from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Wednesday, June 9th. Wells Fargo & Company cut their price target on UiPath from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 8th. They noted that the move was a valuation call. Finally, Summit Redstone began coverage on UiPath in a report on Monday, July 12th. They set a “sell” rating and a $40.00 price target on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.62.

The company’s 50 day moving average is $60.89.

UiPath (NASDAQ:PATH) last posted its quarterly earnings results on Monday, September 6th. The healthcare company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The business had revenue of $195.52 million during the quarter, compared to analyst estimates of $186.72 million. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, research analysts expect that UiPath Inc. will post -0.82 earnings per share for the current year.

In other UiPath news, CFO Ashim Gupta sold 20,000 shares of UiPath stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $56.10, for a total transaction of $1,122,000.00. Following the transaction, the chief financial officer now directly owns 598,091 shares in the company, valued at approximately $33,552,905.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brad Brubaker sold 6,700 shares of UiPath stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $62.13, for a total transaction of $416,271.00. Following the transaction, the insider now owns 6,700 shares in the company, valued at $416,271. The disclosure for this sale can be found here. In the last 90 days, insiders sold 471,052 shares of company stock worth $28,037,145. 28.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trustcore Financial Services LLC acquired a new stake in shares of UiPath during the 2nd quarter valued at $29,000. Sierra Capital LLC acquired a new stake in shares of UiPath during the 2nd quarter valued at $34,000. Harbor Investment Advisory LLC acquired a new stake in shares of UiPath during the 2nd quarter valued at $42,000. Valley National Advisers Inc. acquired a new stake in shares of UiPath during the 2nd quarter valued at $48,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of UiPath during the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 31.14% of the company’s stock.

UiPath Company Profile (NASDAQ:PATH)

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. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.

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