UiPath (NYSE:PATH) Trading Up 8.2% – Time to Buy?

UiPath Inc. (NYSE:PATH)’s share price rose 8.2% during mid-day trading on Monday . The company traded as high as $14.49 and last traded at $14.37. Approximately 5,506,866 shares changed hands during trading, a decline of 0% from the average daily volume of 5,534,286 shares. The stock had previously closed at $13.28.

Wall Street Analysts Forecast Growth

PATH has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of UiPath in a research report on Thursday, December 12th. They set a “sell” rating and a $14.00 price objective on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price objective on shares of UiPath in a research report on Friday, December 6th. BMO Capital Markets boosted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Wells Fargo & Company reduced their price objective on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Morgan Stanley boosted their target price on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, UiPath currently has an average rating of “Hold” and an average target price of $17.50.

UiPath Trading Up 3.8 %

The company has a market cap of $7.58 billion, a P/E ratio of -86.19 and a beta of 0.96. The stock’s 50 day moving average is $13.48 and its 200-day moving average is $12.72.

Hedge Funds Weigh In On UiPath

Hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in UiPath in the 3rd quarter worth about $26,000. JTC Employer Solutions Trustee Ltd bought a new position in UiPath during the 3rd quarter valued at about $26,000. Quarry LP lifted its stake in UiPath by 654.4% during the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after acquiring an additional 2,729 shares during the period. Redwood Wealth Management Group LLC bought a new position in UiPath during the 2nd quarter valued at about $43,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in UiPath by 124.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the company’s stock valued at $52,000 after acquiring an additional 2,274 shares during the period. Institutional investors own 62.50% of the company’s stock.

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.