UiPath (NYSE:PATH) Stock Price Up 0.6% - Still a Buy?

UiPath Inc. (NYSE:PATH - Get Free Report)'s stock price rose 0.6% on Wednesday . The stock traded as high as $13.14 and last traded at $13.13. Approximately 2,583,517 shares traded hands during trading, a decline of 73% from the average daily volume of 9,650,370 shares. The stock had previously closed at $13.05.

Wall Street Analyst Weigh In

PATH has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of UiPath from $17.00 to $18.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Bank of America boosted their price objective on shares of UiPath from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, September 6th. Needham & Company LLC reiterated a "hold" rating on shares of UiPath in a report on Thursday, December 19th. DA Davidson lifted their price target on shares of UiPath from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Finally, TD Cowen dropped their price objective on UiPath from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, UiPath presently has an average rating of "Hold" and an average target price of $17.50.

UiPath Stock Up 0.6 %

The firm has a fifty day moving average of $13.44 and a 200-day moving average of $12.65. The firm has a market cap of $7.22 billion, a P/E ratio of -82.06 and a beta of 0.94.

Institutional Investors Weigh In On UiPath

Several large investors have recently made changes to their positions in PATH. Raymond James & Associates raised its position in UiPath by 40.3% during the second quarter. Raymond James & Associates now owns 230,331 shares of the company's stock worth $2,921,000 after acquiring an additional 66,114 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of UiPath by 20.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,552,921 shares of the company's stock valued at $32,371,000 after purchasing an additional 439,344 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in UiPath in the 2nd quarter valued at about $396,000. Nations Financial Group Inc. IA ADV bought a new position in UiPath during the second quarter worth about $310,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in UiPath by 5.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 41,421 shares of the company's stock valued at $525,000 after buying an additional 2,158 shares during the period. Institutional investors and hedge funds 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.