Barclays Cuts UiPath (NASDAQ:PATH) Price Target to $57.00

UiPath (NASDAQ:PATH) had its price objective decreased by Barclays from $61.00 to $57.00 in a research note released on Wednesday morning, The Fly reports.

A number of other equities research analysts have also weighed in on PATH. Morgan Stanley raised shares of UiPath from an equal weight rating to an overweight rating and set a $74.00 price target for the company in a report on Friday, December 3rd. Credit Suisse Group began coverage on shares of UiPath in a research note on Tuesday, November 16th. They set an outperform rating and a $75.00 price objective on the stock. Berenberg Bank upgraded shares of UiPath from a hold rating to a buy rating and set a $64.00 price objective on the stock in a research note on Thursday, December 9th. Zacks Investment Research downgraded shares of UiPath from a hold rating to a sell rating in a research note on Tuesday, December 14th. Finally, Macquarie reiterated a neutral rating and set a $55.00 price objective (down from $71.00) on shares of UiPath in a research note on Thursday, December 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $67.82.

PATH opened at $36.73 on Wednesday. The company has a fifty day simple moving average of $46.03 and a 200 day simple moving average of $54.09. UiPath has a twelve month low of $35.61 and a twelve month high of $90.00.

UiPath (NASDAQ:PATH) last released its quarterly earnings results on Wednesday, December 8th. The healthcare company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.13). The company had revenue of $220.82 million for the quarter, compared to analyst estimates of $209.23 million. The firm’s revenue for the quarter was up 49.9% compared to the same quarter last year. Equities analysts forecast that UiPath will post -0.79 earnings per share for the current year.

In related news, CAO Hitesh Ramani sold 9,464 shares of UiPath stock in a transaction dated Monday, January 3rd. The shares were sold at an average price of $43.26, for a total value of $409,412.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimberly Hammonds sold 2,521 shares of UiPath stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $40.47, for a total transaction of $102,024.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 616,060 shares of company stock worth $30,091,295. 28.60% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Carroll Financial Associates Inc. acquired a new position in UiPath during the 3rd quarter valued at about $25,000. Whittier Trust Co. acquired a new position in UiPath during the 3rd quarter valued at about $25,000. Sterling Financial Planning Inc. acquired a new position in UiPath during the 3rd quarter valued at about $26,000. Baldwin Brothers LLC MA acquired a new position in UiPath during the 4th quarter valued at about $26,000. Finally, Signaturefd LLC increased its stake in UiPath by 1,240.0% during the 3rd quarter. Signaturefd LLC now owns 536 shares of the healthcare company’s stock valued at $28,000 after buying an additional 496 shares during the period. Hedge funds and other institutional investors own 46.54% 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, 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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