UiPath (NYSE:PATH) Shares Down 0.2% – Here’s Why

UiPath Inc. (NYSE:PATH)’s stock price fell 0.2% during mid-day trading on Tuesday . The stock traded as low as $12.62 and last traded at $12.71. 1,114,704 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 9,570,938 shares. The stock had previously closed at $12.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PATH shares. BMO Capital Markets lifted their price objective on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Barclays increased 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. Evercore ISI boosted their price target on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. UBS Group started coverage on UiPath in a report on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of UiPath in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.50.

UiPath Price Performance

The stock has a market cap of $6.99 billion, a price-to-earnings ratio of -79.44 and a beta of 0.94. The firm has a 50 day simple moving average of $13.45 and a two-hundred day simple moving average of $12.69.

Hedge Funds Weigh In On UiPath

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

UiPath Company Profile

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.