UiPath (NYSE:PATH) Trading Up 0.3% - Still a Buy?

Shares of UiPath Inc. (NYSE:PATH - Get Free Report) rose 0.3% 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.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PATH shares. Bank of America lifted their target price on UiPath from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. UBS Group began coverage on shares of UiPath in a research report on Thursday, December 12th. They set a "sell" rating and a $14.00 price objective for the company. BMO Capital Markets increased their price objective on shares of UiPath from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. 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. Finally, Wells Fargo & Company dropped their price objective on UiPath from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $17.50.

UiPath Price Performance

The stock's 50 day simple moving average is $13.45 and its 200-day simple moving average is $12.65. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of -82.38 and a beta of 0.94.

Hedge Funds Weigh In On UiPath

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in UiPath by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 36,685 shares of the company's stock worth $470,000 after acquiring an additional 3,477 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in UiPath by 236.0% during the third quarter. Sanctuary Advisors LLC now owns 41,098 shares of the company's stock worth $526,000 after buying an additional 28,865 shares in the last quarter. Geode Capital Management LLC raised its position in UiPath by 7.2% in the third quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company's stock worth $93,619,000 after purchasing an additional 493,502 shares in the last quarter. M&T Bank Corp lifted its position in shares of UiPath by 60.1% during the 3rd quarter. M&T Bank Corp now owns 31,791 shares of the company's stock worth $407,000 after buying an additional 11,940 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of UiPath by 61.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 240,123 shares of the company's stock valued at $3,074,000 after purchasing an additional 91,788 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

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.