UiPath (NYSE:PATH) Price Target Increased to $30.00 by Analysts at Scotiabank

UiPath (NYSE:PATH) had its target price hoisted by Scotiabank from $29.00 to $30.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a sector perform rating on the healthcare company’s stock.

PATH has been the topic of a number of other reports. JPMorgan Chase & Co. raised shares of UiPath from a neutral rating to an overweight rating and upped their target price for the company from $22.00 to $28.00 in a report on Thursday. William Blair initiated coverage on UiPath in a research note on Tuesday, January 2nd. They set an outperform rating for the company. Needham & Company LLC lifted their price objective on shares of UiPath from $25.00 to $30.00 and gave the stock a buy rating in a research report on Thursday. Mizuho lifted their target price on shares of UiPath from $18.00 to $22.00 and gave the stock a neutral rating in a report on Friday, December 1st. Finally, TD Cowen increased their price target on shares of UiPath from $25.00 to $28.00 and gave the company an outperform rating in a report on Thursday. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, UiPath presently has a consensus rating of Hold and an average price target of $27.13.

UiPath Stock Performance

NYSE PATH traded up $0.32 during trading on Thursday, hitting $23.07. The stock had a trading volume of 9,842,354 shares, compared to its average volume of 10,074,664. UiPath has a 12 month low of $12.38 and a 12 month high of $27.87. The company has a market capitalization of $13.06 billion, a PE ratio of -135.46 and a beta of 0.97. The company’s 50-day moving average price is $23.52 and its two-hundred day moving average price is $20.70.

Insider Activity

In other news, Director Rich Wong sold 200,000 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $23.12, for a total value of $4,624,000.00. Following the transaction, the director now directly owns 429,418 shares of the company’s stock, valued at approximately $9,928,144.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $22.47, for a total transaction of $359,520.00. Following the transaction, the chief financial officer now owns 103,505 shares of the company’s stock, valued at approximately $2,325,757.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rich Wong sold 200,000 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the sale, the director now directly owns 429,418 shares of the company’s stock, valued at $9,928,144.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,000 shares of company stock valued at $9,418,670. 31.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of UiPath by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock valued at $946,028,000 after acquiring an additional 334,085 shares in the last quarter. BlackRock Inc. increased its position in UiPath by 32.1% in the second quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock worth $387,354,000 after buying an additional 5,681,577 shares during the last quarter. FMR LLC raised its stake in UiPath by 2.9% in the 3rd quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after acquiring an additional 463,032 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of UiPath by 37.4% in the second quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company’s stock worth $193,241,000 after purchasing an additional 3,172,300 shares in the last quarter. Finally, Altimeter Capital Management LP raised its position in shares of UiPath by 175.4% in 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 during the period. Institutional investors own 59.04% 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.