UiPath (NYSE:PATH) Trading Down 7.7% – What’s Next?

UiPath, Inc. (NYSE:PATH) shares traded down 7.7% during mid-day trading on Wednesday . The stock traded as low as $11.00 and last traded at $11.1140. 6,395,136 shares were traded during trading, a decline of 85% from the average session volume of 41,434,879 shares. The stock had previously closed at $12.04.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PATH. Wall Street Zen downgraded shares of UiPath from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. DA Davidson decreased their price objective on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, May 29th. Morgan Stanley lowered their price objective on shares of UiPath from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, May 29th. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of UiPath in a report on Friday, May 29th. Finally, New Street Research set a $13.00 target price on shares of UiPath in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, UiPath currently has an average rating of “Hold” and an average target price of $13.80.

UiPath Price Performance

The firm has a 50-day simple moving average of $11.11 and a 200-day simple moving average of $11.75. The firm has a market capitalization of $5.50 billion, a PE ratio of 17.73, a PEG ratio of 1.46 and a beta of 0.98.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. UiPath had a net margin of 19.58% and a return on equity of 7.92%. The firm had revenue of $418.38 million during the quarter, compared to analyst estimates of $397.54 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts expect that UiPath, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB grew its position in shares of UiPath by 2.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 128,200 shares of the company’s stock valued at $1,394,000 after acquiring an additional 3,100 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in UiPath by 54.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 62,288 shares of the company’s stock worth $677,000 after purchasing an additional 21,912 shares during the period. Teamwork Financial Advisors LLC raised its holdings in UiPath by 6.1% in the 2nd quarter. Teamwork Financial Advisors LLC now owns 165,047 shares of the company’s stock worth $1,794,000 after purchasing an additional 9,436 shares during the period. Assenagon Asset Management S.A. lifted its position in UiPath by 272.8% during the second quarter. Assenagon Asset Management S.A. now owns 552,613 shares of the company’s stock valued at $6,007,000 after purchasing an additional 404,399 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in UiPath during the first quarter valued at $586,000. 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.