BMO Capital Markets Has Lowered Expectations for UiPath (NYSE:PATH) Stock Price

UiPath (NYSE:PATH) had its target price cut by BMO Capital Markets from $16.00 to $11.50 in a report issued on Friday,Benzinga reports. They currently have a market perform rating on the stock.

Several other analysts have also recently commented on the company. Evercore ISI dropped their price target on UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on UiPath from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Scotiabank cut their target price on UiPath from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday. Morgan Stanley cut their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Barclays cut their target price on UiPath from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.53.

UiPath Stock Performance

Shares of PATH opened at $10.84 on Friday. UiPath has a one year low of $9.50 and a one year high of $23.97. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of -67.78 and a beta of 1.00. The stock has a 50 day moving average price of $13.36 and a 200 day moving average price of $13.15.

Insider Buying and Selling

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

Hedge Funds Weigh In On UiPath

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in shares of UiPath by 17.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 104,608 shares of the company’s stock valued at $1,339,000 after buying an additional 15,698 shares during the period. Amalgamated Bank boosted its stake in shares of UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock valued at $350,000 after buying an additional 1,811 shares during the period. Principal Financial Group Inc. boosted its stake in shares of UiPath by 10.5% in the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock valued at $470,000 after buying an additional 3,477 shares during the period. Versor Investments LP purchased a new position in shares of UiPath in the 3rd quarter valued at about $266,000. Finally, Nations Financial Group Inc. IA ADV boosted its stake in shares of UiPath by 6.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock valued at $334,000 after buying an additional 1,654 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.