UiPath (NYSE:PATH) Trading 0.3% Higher – Still a Buy?

UiPath Inc. (NYSE:PATH) rose 0.3% during mid-day trading on Thursday . The stock traded as high as $13.19 and last traded at $13.17. Approximately 961,588 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 9,614,964 shares. The stock had previously closed at $13.13.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PATH shares. Barclays raised their price target on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of UiPath in a report on Friday, December 6th. Morgan Stanley upped their price target on UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. DA Davidson boosted their price objective on shares of UiPath from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of UiPath in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.50.

UiPath Stock Performance

The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of -82.50 and a beta of 0.94. The business has a 50 day simple moving average of $13.44 and a 200-day simple moving average of $12.65.

Hedge Funds Weigh In On UiPath

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board lifted its stake 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 purchasing an additional 62,650 shares during the last quarter. D.A. Davidson & CO. increased its stake in UiPath by 60.1% in the 3rd 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 lifted its position 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 purchasing an additional 74,959 shares during the period. Senvest Management LLC raised its position in 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 acquiring an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of UiPath by 667.7% during the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after acquiring an additional 88,468 shares in the last quarter. 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.