UiPath (NYSE:PATH) Receives Hold Rating from Needham & Company LLC

UiPath (NYSE:PATH)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports.

Several other research analysts have also recently issued reports on PATH. Bank of America upped their target price on shares of UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Friday. DA Davidson decreased their price target on shares of UiPath from $24.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Mizuho decreased their price target on shares of UiPath from $25.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Canaccord Genuity Group decreased their price target on shares of UiPath from $30.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, Macquarie cut shares of UiPath from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $12.00 in a research note on Monday, June 3rd. Sixteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.12.

UiPath Trading Up 0.2 %

Shares of UiPath stock opened at $12.74 on Friday. The company has a fifty day simple moving average of $12.22 and a 200-day simple moving average of $16.80. UiPath has a 12-month low of $10.37 and a 12-month high of $27.87. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of -79.63 and a beta of 0.87.

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

Hedge Funds Weigh In On UiPath

A number of large investors have recently made changes to their positions in PATH. Mark Sheptoff Financial Planning LLC purchased a new position in shares of UiPath in the 4th quarter valued at about $25,000. ORG Partners LLC lifted its holdings in shares of UiPath by 875.6% in the first quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock valued at $27,000 after purchasing an additional 1,112 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of UiPath in the second quarter valued at approximately $28,000. Redwood Wealth Management Group LLC purchased a new position in shares of UiPath during the 2nd quarter worth approximately $43,000. Finally, Lindbrook Capital LLC increased its stake in shares of UiPath by 46.0% during the 1st quarter. Lindbrook Capital LLC now owns 2,027 shares of the healthcare company’s stock worth $46,000 after purchasing an additional 639 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.