UiPath (NYSE:PATH) Reaches New 52-Week Low – What’s Next?

UiPath Inc. (NYSE:PATH)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $9.38 and last traded at $10.02, with a volume of 7641373 shares traded. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PATH. Morgan Stanley dropped their target price on shares of UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Evercore ISI dropped their price objective on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a research note on Thursday, March 13th. Canaccord Genuity Group reduced their target price on UiPath from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets dropped their price target on UiPath from $16.00 to $11.50 and set a “market perform” rating for the company in a research report on Friday, March 14th. Finally, Wells Fargo & Company reduced their price objective on UiPath from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, UiPath presently has a consensus rating of “Hold” and a consensus price target of $13.62.

UiPath Price Performance

The company’s 50-day moving average is $12.50 and its 200-day moving average is $12.96. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of -61.24 and a beta of 1.04.

Hedge Funds Weigh In On UiPath

A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of UiPath during the 4th quarter worth $71,191,000. Senvest Management LLC increased its stake in UiPath by 29.2% during the fourth quarter. Senvest Management LLC now owns 14,074,783 shares of the company’s stock worth $178,890,000 after acquiring an additional 3,180,300 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of UiPath by 45.3% in the 4th quarter. AQR Capital Management LLC now owns 6,646,320 shares of the company’s stock worth $84,209,000 after purchasing an additional 2,072,089 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of UiPath by 35.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 5,459,071 shares of the company’s stock valued at $69,385,000 after purchasing an additional 1,432,569 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of UiPath by 111.8% during the 4th quarter. Marshall Wace LLP now owns 2,456,102 shares of the company’s stock worth $31,217,000 after purchasing an additional 1,296,382 shares during the period. 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.