UiPath (NYSE:PATH) Trading Up 0.6% – Still a Buy?

UiPath Inc. (NYSE:PATH)’s share price shot up 0.6% during trading on Wednesday . The company traded as high as $13.14 and last traded at $13.13. 2,583,517 shares were traded during mid-day trading, a decline of 73% from the average session volume of 9,650,370 shares. The stock had previously closed at $13.05.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PATH shares. UBS Group began coverage on UiPath in a research report on Thursday, December 12th. They issued a “sell” rating and a $14.00 price target for the company. Wells Fargo & Company reduced their target price on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Bank of America increased their price target on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, UiPath currently has a consensus rating of “Hold” and an average price target of $17.50.

UiPath Price Performance

The stock has a market cap of $7.24 billion, a P/E ratio of -82.38 and a beta of 0.94. The company has a 50 day simple moving average of $13.45 and a 200-day simple moving average of $12.65.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PATH. Ontario Teachers Pension Plan Board boosted its stake in shares of UiPath by 136.0% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock valued at $1,392,000 after purchasing an additional 62,650 shares in the last quarter. D.A. Davidson & CO. boosted its position in UiPath by 60.1% during the third quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock valued at $7,138,000 after buying an additional 209,300 shares during the period. Stifel Financial Corp grew its stake in shares of UiPath by 30.1% during the third quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock valued at $4,145,000 after buying an additional 74,959 shares during the last quarter. Senvest Management LLC increased its holdings in shares of UiPath by 16.7% in the third quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares during the period. Finally, Quantbot Technologies LP lifted its stake in shares of UiPath by 667.7% in the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock valued at $1,302,000 after acquiring an additional 88,468 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

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.