UiPath (NASDAQ:PATH) Sets New 12-Month Low at $52.95

UiPath Inc. (NASDAQ:PATH)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $52.95 and last traded at $53.16, with a volume of 201765 shares. The stock had previously closed at $55.89.

A number of equities analysts have weighed in on PATH shares. Berenberg Bank started coverage on shares of UiPath in a research report on Wednesday, May 19th. They set a “hold” rating and a $64.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of UiPath from $75.00 to $65.00 and set an “equal weight” rating for the company in a report on Wednesday, September 8th. They noted that the move was a valuation call. Truist upped their target price on shares of UiPath from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, June 9th. Canaccord Genuity raised shares of UiPath to a “hold” rating and dropped their target price for the stock from $75.00 to $65.00 in a report on Wednesday, September 8th. Finally, Morgan Stanley upped their target price on shares of UiPath from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UiPath has a consensus rating of “Hold” and a consensus target price of $71.57.

The business’s fifty day moving average is $62.02.

UiPath (NASDAQ:PATH) last issued its earnings results on Monday, September 6th. The healthcare company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The firm had revenue of $195.52 million during the quarter, compared to analyst estimates of $186.72 million. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts forecast that UiPath Inc. will post -0.64 EPS for the current year.

In other news, Director Philippe Botteri sold 163,539 shares of the firm’s stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $60.18, for a total transaction of $9,841,777.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brad Brubaker sold 6,700 shares of UiPath stock in a transaction on Friday, August 13th. The shares were sold at an average price of $62.13, for a total transaction of $416,271.00. Following the completion of the transaction, the insider now owns 6,700 shares in the company, valued at $416,271. The disclosure for this sale can be found here. In the last three months, insiders have sold 490,052 shares of company stock worth $29,380,065. 28.60% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of PATH. Price T Rowe Associates Inc. MD acquired a new stake in UiPath in the second quarter valued at $1,521,290,000. ARK Investment Management LLC acquired a new stake in UiPath in the second quarter valued at $806,729,000. Coatue Management LLC acquired a new stake in UiPath in the second quarter valued at $769,807,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in UiPath in the second quarter valued at $409,526,000. Finally, Nikko Asset Management Americas Inc. acquired a new position in shares of UiPath during the 2nd quarter worth $411,517,000. Hedge funds and other institutional investors own 31.14% of the company’s stock.

UiPath Company Profile (NASDAQ:PATH)

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, and Japan. It develops UiPath Studio, a platform designed for RPA developers looking to build complex process automations with built-in governance capabilities, such as robust debugging tools, application programming interface automation, wizards to automate desktop or web applications, leverage custom code, and to integrate machine learning models into production workflows.

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