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

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

A number of other equities research analysts have also recently weighed in on PATH. Bank of America reiterated an “underperform” rating and issued a $10.00 price objective (down from $18.00) on shares of UiPath in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday. UBS Group assumed coverage on UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price objective on the stock. BMO Capital Markets raised their price objective on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company reduced their price target on shares of UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $15.22.

UiPath Stock Performance

Shares of NYSE:PATH traded down $1.73 during trading hours on Thursday, reaching $10.11. The stock had a trading volume of 21,204,739 shares, compared to its average volume of 9,482,741. UiPath has a 1 year low of $9.37 and a 1 year high of $25.47. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of -63.22 and a beta of 1.00. The firm’s 50 day moving average is $13.47 and its 200-day moving average is $13.18.

Insider Buying and Selling at UiPath

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

Institutional Investors Weigh In On UiPath

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in UiPath by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock worth $31,000 after acquiring an additional 1,152 shares during the period. First Horizon Advisors Inc. grew its stake in UiPath by 47.8% during the 4th quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after buying an additional 804 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after buying an additional 1,742 shares during the period. V Square Quantitative Management LLC lifted its stake in UiPath by 33.4% in the fourth quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock valued at $39,000 after buying an additional 759 shares during the last quarter. Finally, Quarry LP boosted 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 acquiring an additional 2,729 shares during the period. 62.50% of the stock is owned by institutional investors and hedge funds.

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.