UiPath (NYSE:PATH) Stock Price Up 1.7% – Still a Buy?

UiPath Inc. (NYSE:PATH) traded up 1.7% during mid-day trading on Thursday . The stock traded as high as $13.05 and last traded at $12.92. 1,540,216 shares were traded during trading, a decline of 84% from the average session volume of 9,586,992 shares. The stock had previously closed at $12.71.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PATH shares. Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Evercore ISI increased their price target on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Morgan Stanley boosted their price objective on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. UBS Group assumed coverage on UiPath in a report on Thursday, December 12th. They set a “sell” rating and a $14.00 price target on the stock. Finally, Bank of America lifted their target price on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.50.

UiPath Price Performance

The company has a market cap of $7.30 billion, a PE ratio of -83.00 and a beta of 0.96. The business’s 50 day moving average is $13.48 and its 200-day moving average is $12.70.

Hedge Funds Weigh In On UiPath

A number of institutional investors and hedge funds have recently modified their holdings of PATH. Everence Capital Management Inc. purchased a new stake in UiPath during the 4th quarter worth about $241,000. Principal Financial Group Inc. raised its position in shares of UiPath by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company’s stock worth $470,000 after acquiring an additional 3,477 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in UiPath by 236.0% during the third quarter. Sanctuary Advisors LLC now owns 41,098 shares of the company’s stock worth $526,000 after purchasing an additional 28,865 shares during the last quarter. Geode Capital Management LLC boosted its holdings in UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after purchasing an additional 493,502 shares in the last quarter. Finally, M&T Bank Corp increased its stake in UiPath by 60.1% in the third quarter. M&T Bank Corp now owns 31,791 shares of the company’s stock valued at $407,000 after purchasing an additional 11,940 shares during the last quarter. Institutional investors and hedge funds 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.