UiPath (NYSE:PATH) Trading 1.7% Higher - Should You Buy?

UiPath Inc. (NYSE:PATH - Get Free Report) rose 1.7% during mid-day trading on Thursday . The stock traded as high as $13.05 and last traded at $12.92. Approximately 1,540,216 shares traded hands during trading, a decline of 84% from the average daily volume of 9,586,992 shares. The stock had previously closed at $12.71.

Analysts Set New Price Targets

A number of brokerages have weighed in on PATH. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $16.00 price objective on shares of UiPath in a report on Friday, December 6th. BMO Capital Markets upped their price objective on UiPath from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. DA Davidson increased their price objective on UiPath from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Morgan Stanley boosted their target price on shares of UiPath from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Finally, UBS Group started coverage on shares of UiPath in a report on Thursday, December 12th. They issued a "sell" rating and a $14.00 price target for the company. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $17.50.

UiPath Stock Up 1.7 %

The firm has a market cap of $7.11 billion, a price-to-earnings ratio of -80.81 and a beta of 0.94. The firm has a fifty day moving average price of $13.45 and a 200-day moving average price of $12.69.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cowa LLC increased its position in UiPath by 4.4% during the third quarter. Cowa LLC now owns 26,681 shares of the company's stock worth $342,000 after purchasing an additional 1,118 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company's stock worth $334,000 after buying an additional 1,654 shares during the last quarter. Amalgamated Bank raised its position in shares of UiPath by 7.1% in the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company's stock worth $350,000 after buying an additional 1,811 shares during the period. Thrivent Financial for Lutherans grew its position in UiPath by 10.6% during the third quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company's stock valued at $267,000 after acquiring an additional 1,995 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in UiPath during the third quarter valued at about $26,000. Institutional investors and hedge funds 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.