UiPath (NYSE:PATH) Shares Gap Up on Better-Than-Expected Earnings

UiPath Inc. (NYSE:PATH) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $12.74, but opened at $13.65. UiPath shares last traded at $12.94, with a volume of 5,052,699 shares traded.

The healthcare company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $316.00 million for the quarter, compared to analysts’ expectations of $303.69 million. UiPath had a negative return on equity of 2.97% and a negative net margin of 6.41%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share.

Analyst Ratings Changes

Several research firms have recently commented on PATH. BMO Capital Markets raised their price objective on UiPath from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday. Canaccord Genuity Group decreased their price objective on UiPath from $30.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Friday. Mizuho decreased their target price on UiPath from $25.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, KeyCorp reissued a “sector weight” rating on shares of UiPath in a research note on Thursday, May 30th. Sixteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.71.

Hedge Funds Weigh In On UiPath

Large investors have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of UiPath in the 4th quarter worth $25,000. ORG Partners LLC grew its position in shares of UiPath by 875.6% during the 1st quarter. ORG Partners LLC now owns 1,239 shares of the healthcare company’s stock worth $27,000 after buying an additional 1,112 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of UiPath during the 2nd quarter worth $28,000. Redwood Wealth Management Group LLC bought a new position in shares of UiPath during the 2nd quarter worth $43,000. Finally, Lindbrook Capital LLC grew its position 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 buying an additional 639 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

UiPath Trading Down 6.0 %

The business has a 50-day moving average price of $12.20 and a 200-day moving average price of $16.71. The firm has a market cap of $6.86 billion, a P/E ratio of -74.84 and a beta of 0.87.

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.