UiPath (NYSE:PATH) Stock Price Up 6.6% – Should You Buy?

UiPath, Inc. (NYSE:PATH) traded up 6.6% during trading on Friday . The company traded as high as $10.86 and last traded at $10.8750. 46,265,539 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 42,210,980 shares. The stock had previously closed at $10.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PATH shares. New Street Research set a $13.00 target price on UiPath in a report on Monday, June 1st. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of UiPath in a research report on Friday, May 29th. DA Davidson reduced their price objective on shares of UiPath from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, May 29th. Bank of America boosted their price objective on shares of UiPath from $12.00 to $13.00 and gave the company an “underperform” rating in a report on Friday, May 29th. Finally, Wall Street Zen downgraded shares of UiPath from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Two equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.80.

UiPath Stock Performance

The company has a 50-day moving average of $11.14 and a 200-day moving average of $11.67. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.28 and a beta of 0.98.

UiPath (NYSE:PATH) last announced its earnings results on Thursday, May 28th. The company reported $0.15 EPS for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $397.54 million. During the same period last year, the company posted $0.11 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, analysts anticipate that UiPath, Inc. will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On UiPath

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DNB Asset Management AS boosted its stake in UiPath by 266.4% in the 4th quarter. DNB Asset Management AS now owns 565,799 shares of the company’s stock worth $9,273,000 after purchasing an additional 411,395 shares during the period. State of Michigan Retirement System acquired a new stake in shares of UiPath in the 1st quarter valued at about $1,143,000. Burney Co. acquired a new stake in shares of UiPath in the 4th quarter valued at about $2,285,000. Vanguard Group Inc. lifted its holdings in shares of UiPath by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 49,114,941 shares of the company’s stock valued at $804,994,000 after purchasing an additional 1,219,057 shares in the last quarter. Finally, Pier Capital LLC boosted its position in shares of UiPath by 95.4% during the fourth quarter. Pier Capital LLC now owns 251,245 shares of the company’s stock worth $4,118,000 after buying an additional 122,671 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.