BMO Capital Markets Cuts UiPath (NYSE:PATH) Price Target to $11.50

UiPath (NYSE:PATH) had its price target dropped by stock analysts at BMO Capital Markets from $16.00 to $11.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 6.05% from the stock’s previous close.

Several other analysts have also recently weighed in on PATH. JPMorgan Chase & Co. lifted their price target on shares of UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada cut their target price on shares of UiPath from $16.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Thursday. UBS Group decreased their price target on shares of UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday. Mizuho cut their price objective on UiPath from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Morgan Stanley decreased their target price on UiPath from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen 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 a consensus rating of “Hold” and an average target price of $14.53.

UiPath Stock Performance

NYSE PATH opened at $10.84 on Friday. The stock has a market cap of $5.96 billion, a P/E ratio of -67.78 and a beta of 1.00. UiPath has a fifty-two week low of $9.50 and a fifty-two week high of $23.97. The stock has a 50 day simple moving average of $13.36 and a two-hundred day simple moving average of $13.15.

Insider Activity at UiPath

In other UiPath news, CFO Ashim Gupta sold 47,227 shares of UiPath stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $13.06, for a total value of $616,784.62. Following the completion of the sale, the chief financial officer now owns 856,538 shares of the company’s stock, valued at approximately $11,186,386.28. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hitesh Ramani sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total value of $326,250.00. Following the transaction, the chief accounting officer now directly owns 269,421 shares in the company, valued at approximately $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UiPath

A number of hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in shares of UiPath by 88.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,454 shares of the company’s stock valued at $31,000 after acquiring an additional 1,152 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in UiPath by 47.8% in the fourth quarter. First Horizon Advisors Inc. now owns 2,487 shares of the company’s stock worth $32,000 after purchasing an additional 804 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in UiPath by 141.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,974 shares of the company’s stock worth $38,000 after purchasing an additional 1,742 shares during the last quarter. V Square Quantitative Management LLC grew its position in UiPath by 33.4% in the 4th quarter. V Square Quantitative Management LLC now owns 3,030 shares of the company’s stock worth $39,000 after purchasing an additional 759 shares during the period. Finally, Quarry LP raised 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 buying an additional 2,729 shares during the last quarter. Hedge funds and other 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.