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

Shares of UiPath Inc. (NYSE:PATH) traded down 0.2% during trading on Tuesday . The stock traded as low as $12.62 and last traded at $12.71. 1,114,704 shares traded hands during 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

Several analysts have issued reports on the stock. TD Cowen cut their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Evercore ISI raised their target price on UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday, December 19th. Finally, BMO Capital Markets increased their price target on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, UiPath has a consensus rating of “Hold” and a consensus target price of $17.50.

UiPath Stock Down 0.5 %

The stock has a market capitalization of $6.97 billion, a PE ratio of -79.25 and a beta of 0.94. The business’s 50-day moving average is $13.44 and its two-hundred day moving average is $12.68.

Institutional Investors Weigh In On UiPath

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PATH. Ontario Teachers Pension Plan Board grew 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 during the last quarter. D.A. Davidson & CO. lifted its stake in shares of UiPath by 60.1% in the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after acquiring 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 boosted its stake 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 valued at $139,449,000 after buying an additional 1,559,500 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position 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 purchasing an additional 88,468 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.