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

UiPath Inc. (NYSE:PATH)’s share price rose 5.8% during mid-day trading on Wednesday . The stock 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 Upgrades and Downgrades

PATH has been the subject of several research analyst reports. TD Cowen reduced their price objective on UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Evercore ISI raised their price target on UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Wednesday, October 23rd. DA Davidson raised their price target on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. cut their price target on UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Sixteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.47.

UiPath Trading Up 6.2 %

The stock has a market cap of $8.40 billion, a price-to-earnings ratio of -78.20 and a beta of 0.94. The stock has a fifty day simple moving average of $12.96 and a 200-day simple moving average of $12.83.

UiPath (NYSE:PATH) last released its earnings results on Thursday, September 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $316.00 million for the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative return on equity of 3.98% and a negative net margin of 8.13%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Sell-side analysts forecast that UiPath Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at UiPath

In other news, CFO Ashim Gupta sold 47,671 shares of UiPath stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $12.07, for a total transaction of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares of the company’s stock, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.37% of the company’s stock.

Institutional Trading of UiPath

Several institutional investors have recently modified their holdings of PATH. Future Financial Wealth Managment LLC bought a new position in shares of UiPath during the 3rd quarter worth approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of UiPath during the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. bought a new position in shares of UiPath during the 2nd quarter worth approximately $28,000. Quarry LP lifted its position in shares of UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock worth $40,000 after buying an additional 2,729 shares during the period. Finally, Redwood Wealth Management Group LLC bought a new position in shares of UiPath during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds 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.