Needham & Company LLC Reiterates “Hold” Rating for UiPath (NYSE:PATH)

Needham & Company LLC reiterated their hold rating on shares of UiPath (NYSE:PATH) in a research report released on Thursday morning,Benzinga reports.

A number of other analysts have also recently issued reports on the stock. UBS Group assumed coverage on shares of UiPath in a research note on Thursday, December 12th. They issued a “sell” rating and a $14.00 target price for the company. Morgan Stanley lifted their price objective on shares of UiPath from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Wells Fargo & Company lowered their target price 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. DA Davidson boosted their price target on UiPath from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price objective on UiPath from $17.00 to $18.00 and gave the company an “overweight” 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.50.

UiPath Price Performance

Shares of UiPath stock opened at $13.25 on Thursday. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of -82.81 and a beta of 0.94. The stock has a 50-day simple moving average of $13.42 and a 200-day simple moving average of $12.62. UiPath has a 52-week low of $10.37 and a 52-week high of $27.87.

Institutional Investors Weigh In On UiPath

A number of institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in UiPath in the 3rd quarter valued at approximately $26,000. JTC Employer Solutions Trustee Ltd bought a new position in UiPath in the third quarter worth $26,000. Hantz Financial Services Inc. acquired a new stake in UiPath during the second quarter worth $28,000. Quarry LP increased its holdings in UiPath by 654.4% in the 3rd quarter. Quarry LP now owns 3,146 shares of the company’s stock valued at $40,000 after buying an additional 2,729 shares during the period. Finally, Redwood Wealth Management Group LLC acquired a new position in shares of UiPath in the 2nd quarter valued at $43,000. 62.50% of the stock is owned by institutional investors and hedge funds.

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.