UiPath (NYSE:PATH) Trading Up 5.8% – Time to Buy?

UiPath Inc. (NYSE:PATH) shares were up 5.8% during mid-day trading on Wednesday . The company traded as high as $15.31 and last traded at $15.21. Approximately 4,229,457 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 9,435,499 shares. The stock had previously closed at $14.38.

Analyst Ratings Changes

A number of equities analysts have issued reports on PATH shares. DA Davidson upped their target price on UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Evercore ISI upped their target price on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Barclays upped their price target on UiPath from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a research report on Wednesday, October 23rd. Finally, Bank of America upped their price target on UiPath from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.47.

UiPath Stock Up 6.2 %

The company has a market cap of $8.40 billion, a P/E ratio of -78.20 and a beta of 0.94. The company has a 50 day moving average price of $12.96 and a 200-day moving average price of $12.83.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The company 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) earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts expect that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at UiPath

In related news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the completion of the transaction, the chief financial officer now owns 849,917 shares of the company’s stock, valued at $10,258,498.19. This trade represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 22.37% of the company’s stock.

Institutional Investors Weigh In On UiPath

Hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of UiPath during the third quarter valued at $26,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of UiPath during the third quarter valued at $26,000. Hantz Financial Services Inc. purchased a new stake in shares of UiPath during the second quarter valued at $28,000. Quarry LP lifted its holdings in shares of UiPath by 654.4% during the third quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after purchasing an additional 2,729 shares during the last quarter. Finally, Redwood Wealth Management Group LLC purchased a new stake in UiPath in the 2nd quarter worth about $43,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

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.