UiPath (NYSE:PATH) Shares Up 7% – Still a Buy?

UiPath, Inc. (NYSE:PATH) shot up 7% on Friday . The company traded as high as $12.95 and last traded at $12.92. 34,255,943 shares were traded during mid-day trading, an increase of 21% from the average session volume of 28,312,072 shares. The stock had previously closed at $12.08.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PATH shares. Truist Financial set a $17.00 target price on UiPath in a research note on Thursday, December 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of UiPath in a research report on Monday, December 29th. TD Cowen restated a “hold” rating on shares of UiPath in a research report on Thursday, December 4th. Royal Bank Of Canada cut their target price on shares of UiPath from $19.00 to $17.00 and set a “sector perform” rating for the company in a research note on Monday, January 5th. Finally, UBS Group reiterated a “neutral” rating on shares of UiPath in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, UiPath currently has an average rating of “Hold” and a consensus price target of $16.00.

UiPath Trading Up 7.0%

The company has a 50-day moving average price of $15.72 and a two-hundred day moving average price of $13.99. The stock has a market cap of $6.91 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.74 and a beta of 1.07.

UiPath (NYSE:PATH) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. UiPath had a net margin of 14.79% and a return on equity of 3.73%. The company had revenue of $411.11 million during the quarter, compared to analyst estimates of $392.46 million. During the same period in the previous year, the firm earned $0.11 earnings per share. UiPath’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that UiPath, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Daniel Dines sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $19.21, for a total transaction of $864,450.00. Following the transaction, the chief executive officer owned 29,153,585 shares of the company’s stock, valued at approximately $560,040,367.85. This represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ashim Gupta sold 67,468 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $16.10, for a total value of $1,086,234.80. Following the sale, the chief financial officer directly owned 557,028 shares of the company’s stock, valued at $8,968,150.80. This represents a 10.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 950,048 shares of company stock worth $15,881,744 over the last quarter. 23.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in UiPath by 8.4% in the 1st quarter. Royal Bank of Canada now owns 140,774 shares of the company’s stock worth $1,450,000 after acquiring an additional 10,872 shares in the last quarter. Woodline Partners LP grew its stake in UiPath by 69.6% in the first quarter. Woodline Partners LP now owns 22,566 shares of the company’s stock worth $232,000 after purchasing an additional 9,257 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in UiPath by 5.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,477,730 shares of the company’s stock worth $15,221,000 after purchasing an additional 75,737 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in UiPath during the 2nd quarter worth $169,000. Finally, Truist Financial Corp raised its position in UiPath by 14.5% during the 2nd quarter. Truist Financial Corp now owns 38,323 shares of the company’s stock valued at $491,000 after purchasing an additional 4,855 shares in the last quarter. Hedge funds and other institutional investors own 62.50% 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, 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. Its platform's embedded AI, ML, and NLP capabilities improve decisioning and information processing; emulate human behavior allows organizations to address a myriad of use cases; emulate human behavior allows organizations to address a myriad of use cases; multi-tenant platform enterprise deployment with security and governance and Automation Cloud, which enables customers to begin automating without the need to provision infrastructure, install applications, or perform additional configurations; intuitive interface and low-code, drag-and-drop functionality; signed to enable people and automations to work together; and tracks, measures, and forecasts the performance of automations, enables customers to gain powerful insights and generate key performance indicators with actionable metric.