UiPath (NYSE:PATH) Shares Gap Up – Still a Buy?

UiPath Inc. (NYSE:PATH) gapped up prior to trading on Monday . The stock had previously closed at $13.28, but opened at $13.98. UiPath shares last traded at $14.12, with a volume of 2,573,795 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on PATH. JPMorgan Chase & Co. boosted their price target on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of UiPath in a report on Thursday, December 19th. BMO Capital Markets boosted their price target on UiPath from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 price target on shares of UiPath in a report on Friday, December 6th. Finally, Wells Fargo & Company decreased their price target on UiPath from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. One research 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.com, the company presently has an average rating of “Hold” and an average price target of $17.50.

UiPath Stock Performance

The company has a market cap of $7.89 billion, a price-to-earnings ratio of -89.69 and a beta of 0.96. The business has a 50-day simple moving average of $13.48 and a 200-day simple moving average of $12.72.

Institutional Investors Weigh In On UiPath

A number of hedge funds have recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board raised its position in shares of UiPath by 136.0% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 108,725 shares of the company’s stock worth $1,392,000 after acquiring an additional 62,650 shares in the last quarter. D.A. Davidson & CO. grew its stake in UiPath by 60.1% during the 3rd quarter. D.A. Davidson & CO. now owns 557,667 shares of the company’s stock worth $7,138,000 after buying an additional 209,300 shares during the last quarter. Stifel Financial Corp grew its stake in UiPath by 30.1% during the 3rd quarter. Stifel Financial Corp now owns 323,818 shares of the company’s stock worth $4,145,000 after buying an additional 74,959 shares during the last quarter. Senvest Management LLC grew its stake in UiPath by 16.7% during the 3rd quarter. Senvest Management LLC now owns 10,894,483 shares of the company’s stock worth $139,449,000 after buying an additional 1,559,500 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in UiPath by 667.7% during the 3rd quarter. Quantbot Technologies LP now owns 101,718 shares of the company’s stock worth $1,302,000 after buying an additional 88,468 shares during the last quarter. Institutional investors and hedge funds own 62.50% 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, 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.