UiPath (NYSE:PATH) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of UiPath (NYSE:PATHFree Report) in a research report report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $29.00 price target on the healthcare company’s stock.

A number of other equities analysts have also commented on PATH. TD Cowen lifted their price objective on UiPath from $25.00 to $28.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. raised UiPath from a neutral rating to an overweight rating and lifted their price objective for the company from $22.00 to $28.00 in a report on Thursday, March 14th. BMO Capital Markets lifted their price objective on UiPath from $24.00 to $28.00 and gave the company a market perform rating in a report on Thursday, March 14th. DA Davidson boosted their target price on UiPath from $20.00 to $24.00 and gave the stock a neutral rating in a report on Thursday, March 14th. Finally, Wells Fargo & Company boosted their target price on UiPath from $24.00 to $25.00 and gave the stock an equal weight rating in a report on Thursday, March 14th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, UiPath has an average rating of Hold and an average target price of $27.44.

Read Our Latest Analysis on PATH

UiPath Price Performance

NYSE PATH opened at $22.97 on Wednesday. UiPath has a fifty-two week low of $12.38 and a fifty-two week high of $27.87. The stock’s 50-day moving average is $23.58 and its two-hundred day moving average is $20.92. The firm has a market cap of $13.00 billion, a P/E ratio of -135.11 and a beta of 0.97.

Insider Activity at UiPath

In other UiPath news, Director Rich Wong sold 200,000 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the completion of the transaction, the director now owns 429,418 shares in the company, valued at approximately $9,928,144.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other UiPath news, CFO Ashim Gupta sold 16,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.84, for a total transaction of $365,440.00. Following the completion of the transaction, the chief financial officer now owns 87,505 shares in the company, valued at approximately $1,998,614.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rich Wong sold 200,000 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $23.12, for a total transaction of $4,624,000.00. Following the transaction, the director now owns 429,418 shares of the company’s stock, valued at $9,928,144.16. The disclosure for this sale can be found here. Insiders sold a total of 427,000 shares of company stock worth $9,784,110 in the last quarter. Corporate insiders own 31.03% of the company’s stock.

Hedge Funds Weigh In On UiPath

Large investors have recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC acquired a new position in shares of UiPath during the 4th quarter worth about $25,000. HighMark Wealth Management LLC acquired a new stake in UiPath in the 4th quarter valued at about $27,000. Tyler Stone Wealth Management acquired a new stake in UiPath in the 2nd quarter valued at about $28,000. Cypress Capital Management LLC WY acquired a new stake in UiPath in the 4th quarter valued at about $29,000. Finally, Fifth Third Bancorp lifted its stake in UiPath by 2,005.3% in the 3rd quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock valued at $34,000 after purchasing an additional 1,905 shares during the last quarter. 59.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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