UiPath’s (PATH) “Outperform” Rating Reaffirmed at Credit Suisse Group

UiPath (NYSE:PATH – Get Rating)‘s stock had its “outperform” rating restated by research analysts at Credit Suisse Group in a report released on Friday, Benzinga reports. They presently have a $27.50 target price on the healthcare company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 61.29% from the company’s previous close.

Several other brokerages have also commented on PATH. Canaccord Genuity Group upgraded UiPath from a “hold” rating to a “buy” rating and increased their price objective for the company from $14.50 to $19.00 in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company upped their price objective on shares of UiPath from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley lifted 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 Thursday. Finally, Royal Bank of Canada raised their price objective on UiPath from $15.00 to $17.00 in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.19.

UiPath Stock Performance

Shares of NYSE:PATH opened at $17.05 on Friday. The firm has a market capitalization of $9.43 billion, a PE ratio of -28.42 and a beta of 0.60. UiPath has a 52-week low of $10.40 and a 52-week high of $31.88. The firm has a fifty day moving average of $15.06 and a 200 day moving average of $13.60.

Insider Activity

In related news, CFO Ashim Gupta sold 40,000 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 1,359,051 shares of the company’s stock, valued at $22,573,837.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 31.88% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of institutional investors have recently bought and sold shares of PATH. Alphabet Inc. bought a new stake in UiPath during the 3rd quarter valued at approximately $177,406,000. ARK Investment Management LLC lifted its stake in shares of UiPath by 22.6% in the 3rd quarter. ARK Investment Management LLC now owns 46,084,074 shares of the healthcare company’s stock valued at $581,120,000 after purchasing an additional 8,488,829 shares during the period. Altimeter Capital Management LP boosted its position in shares of UiPath by 175.4% during the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock valued at $71,579,000 after purchasing an additional 5,270,194 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in UiPath by 21.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,193,046 shares of the healthcare company’s stock worth $368,124,000 after purchasing an additional 5,169,501 shares during the period. Finally, Millennium Management LLC raised its holdings in UiPath by 899.5% in the fourth quarter. Millennium Management LLC now owns 4,049,999 shares of the healthcare company’s stock worth $51,475,000 after purchasing an additional 3,644,799 shares in the last quarter. 56.40% of the stock is owned by institutional investors.

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.