UiPath (NYSE:PATH) Issues Quarterly Earnings Results

UiPath (NYSE:PATH) released its earnings results on Thursday. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15, FiscalAI reports. UiPath had a net margin of 17.53% and a return on equity of 5.69%. The firm had revenue of $418.38 million during the quarter, compared to analyst estimates of $397.54 million.

UiPath Price Performance

NYSE PATH traded up $0.44 during mid-day trading on Thursday, reaching $11.60. The stock had a trading volume of 76,292,332 shares, compared to its average volume of 31,806,275. UiPath has a 1 year low of $9.20 and a 1 year high of $19.84. The stock has a market cap of $6.08 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The company has a fifty day moving average price of $10.75 and a 200 day moving average price of $12.93.

Hedge Funds Weigh In On UiPath

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake in UiPath by 66.4% during the 4th quarter. State Street Corp now owns 13,004,786 shares of the company’s stock valued at $213,148,000 after acquiring an additional 5,189,438 shares during the period. AQR Capital Management LLC lifted its stake in UiPath by 76.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,407,569 shares of the company’s stock valued at $145,732,000 after acquiring an additional 4,926,341 shares during the period. Morgan Stanley lifted its stake in UiPath by 54.0% during the 4th quarter. Morgan Stanley now owns 9,310,304 shares of the company’s stock valued at $152,596,000 after acquiring an additional 3,262,930 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in UiPath by 8.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,710,035 shares of the company’s stock valued at $89,761,000 after acquiring an additional 526,416 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in UiPath by 13.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,505,064 shares of the company’s stock valued at $73,627,000 after acquiring an additional 648,624 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PATH. Mizuho lowered their target price on shares of UiPath from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. DA Davidson lowered their target price on shares of UiPath from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Royal Bank Of Canada set a $14.00 target price on shares of UiPath in a report on Wednesday, February 11th. Wells Fargo & Company lowered their price target on UiPath from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. Finally, BMO Capital Markets lowered their price target on UiPath from $17.00 to $14.00 and set a “market perform” rating for the company in a research report on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, UiPath has an average rating of “Hold” and a consensus target price of $14.07.

UiPath Company Profile

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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.