UiPath (NYSE:PATH) Price Target Raised to $16.00

UiPath (NYSE:PATH – Get Rating) had its price target hoisted by Morgan Stanley from $15.00 to $16.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the healthcare company’s stock. Morgan Stanley’s target price would suggest a potential downside of 6.16% from the stock’s previous close.

PATH has been the topic of several other reports. Wells Fargo & Company increased their target price on UiPath from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, December 2nd. Mizuho raised their target price on shares of UiPath from $15.00 to $16.00 in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday. Credit Suisse Group decreased their price target on shares of UiPath from $30.00 to $27.50 and set an “outperform” rating on the stock in a report on Wednesday, November 16th. Finally, Truist Financial dropped their price objective on UiPath from $25.00 to $20.00 and set a “buy” rating for the company in a report on Friday, December 2nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, UiPath currently has an average rating of “Hold” and an average price target of $19.19.

UiPath Stock Down 1.0 %

Shares of UiPath stock opened at $17.05 on Thursday. UiPath has a fifty-two week low of $10.40 and a fifty-two week high of $31.88. The business’s fifty day moving average is $15.06 and its two-hundred day moving average is $13.62. The firm has a market cap of $9.43 billion, a PE ratio of -28.42 and a beta of 0.60.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $16.61, for a total value of $664,400.00. Following the completion of the transaction, the chief financial officer now owns 1,359,051 shares in the company, valued at approximately $22,573,837.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 31.88% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of UiPath by 3.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 40,993 shares of the healthcare company’s stock worth $885,000 after acquiring an additional 1,506 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in UiPath during the 1st quarter worth approximately $184,000. BlackRock Inc. raised its position in shares of UiPath by 1.9% in the 1st quarter. BlackRock Inc. now owns 5,316,635 shares of the healthcare company’s stock valued at $114,786,000 after purchasing an additional 99,242 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of UiPath during the 1st quarter valued at approximately $534,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of UiPath during the 1st quarter valued at approximately $259,000. Institutional investors and hedge funds own 56.40% of the company’s stock.

UiPath Company Profile

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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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.