UiPath (NYSE:PATH) Price Target Lowered to $12.00 at Evercore ISI

UiPath (NYSE:PATH) had its target price lowered by equities research analysts at Evercore ISI from $16.00 to $12.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 18.75% from the stock’s previous close.

PATH has been the subject of a number of other research reports. Morgan Stanley decreased their price objective on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America reaffirmed an “underperform” rating and issued a $10.00 target price (down previously from $18.00) on shares of UiPath in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. Wells Fargo & Company cut their price target on UiPath from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, UiPath has a consensus rating of “Hold” and a consensus price target of $15.22.

UiPath Stock Down 14.6 %

NYSE:PATH traded down $1.73 during trading hours on Thursday, reaching $10.11. 21,204,739 shares of the company’s stock were exchanged, compared to its average volume of 9,482,741. The company has a market capitalization of $5.55 billion, a P/E ratio of -63.22 and a beta of 1.00. UiPath has a 12 month low of $9.37 and a 12 month high of $25.47. The business’s 50-day simple moving average is $13.47 and its two-hundred day simple moving average is $13.18.

Insider Activity

In other news, CAO Hitesh Ramani sold 25,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $13.05, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at approximately $3,515,944.05. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ashim Gupta sold 47,227 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. 22.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On UiPath

Several institutional investors have recently added to or reduced their stakes in the company. American Trust acquired a new stake in shares of UiPath during the fourth quarter worth approximately $151,000. Focus Partners Advisor Solutions LLC bought a new position in UiPath in the 4th quarter valued at $158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in UiPath by 39.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,401,993 shares of the company’s stock worth $17,819,000 after purchasing an additional 397,121 shares in the last quarter. Virtus Investment Advisers Inc. bought a new stake in shares of UiPath during the fourth quarter worth $160,000. Finally, Two Sigma Advisers LP increased its stake in shares of UiPath by 29.0% in the fourth quarter. Two Sigma Advisers LP now owns 4,901,000 shares of the company’s stock valued at $62,292,000 after buying an additional 1,100,800 shares in the last quarter. 62.50% of the stock is owned by 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.