UiPath (NYSE:PATH) Receives Hold Rating from Needham & Company LLC

UiPath (NYSE:PATH)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a report issued on Thursday,Benzinga reports.

A number of other research analysts have also recently weighed in on the stock. Barclays lifted their target price 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. TD Cowen dropped their price objective on UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. UBS Group initiated coverage on UiPath in a research note on Thursday, December 12th. They set a “sell” rating and a $14.00 target price on the stock. Morgan Stanley boosted their price target on UiPath from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Evercore ISI increased their price objective on shares of UiPath from $13.00 to $16.00 and gave the company an “in-line” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.50.

UiPath Stock Down 6.8 %

Shares of PATH opened at $12.97 on Thursday. The business has a 50-day simple moving average of $13.41 and a two-hundred day simple moving average of $12.61. UiPath has a 52 week low of $10.37 and a 52 week high of $27.87. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of -81.06 and a beta of 0.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cowa LLC grew its holdings in UiPath by 4.4% in the third quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after purchasing an additional 1,118 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of UiPath by 6.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock worth $334,000 after purchasing an additional 1,654 shares in the last quarter. Amalgamated Bank grew its stake in UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after buying an additional 1,811 shares during the last quarter. Thrivent Financial for Lutherans increased its position in UiPath by 10.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,881 shares of the company’s stock valued at $267,000 after buying an additional 1,995 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in UiPath in the third quarter valued at about $26,000. 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.