Barclays Raises UiPath (NYSE:PATH) Price Target to $25.00

UiPath (NYSE:PATH) had its target price hoisted by Barclays from $23.00 to $25.00 in a research note issued to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the healthcare company’s stock.

Several other research firms also recently commented on PATH. Royal Bank of Canada raised their target price on UiPath from $19.00 to $24.00 and gave the stock a sector perform rating in a research report on Friday, December 1st. Needham & Company LLC raised their target price on UiPath from $25.00 to $30.00 and gave the stock a buy rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on UiPath from $18.00 to $20.00 and gave the stock an equal weight rating in a research note on Friday, December 1st. Mizuho boosted their price objective on UiPath from $18.00 to $22.00 and gave the stock a neutral rating in a research note on Friday, December 1st. Finally, William Blair started coverage on UiPath in a research note on Tuesday, January 2nd. They issued an outperform rating on the stock. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $27.13.

UiPath Stock Performance

Shares of NYSE:PATH traded up $0.32 during trading on Friday, hitting $23.07. 9,842,354 shares of the stock were exchanged, compared to its average volume of 10,074,664. UiPath has a 1-year low of $12.38 and a 1-year high of $27.87. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of -135.46 and a beta of 0.97. The company’s fifty day simple moving average is $23.52 and its 200-day simple moving average is $20.70.

Insider Activity

In other news, Director Rich Wong sold 200,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $9,928,144.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Ashim Gupta sold 70,000 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $23.02, for a total value of $1,611,400.00. Following the completion of the sale, the chief financial officer now directly owns 788,148 shares of the company’s stock, valued at approximately $18,143,166.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rich Wong sold 200,000 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $23.12, for a total value of $4,624,000.00. Following the completion of the sale, the director now directly 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 411,000 shares of company stock valued at $9,418,670 over the last three months. Insiders own 31.03% of the company’s stock.

Institutional Trading of UiPath

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of UiPath by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 38,084,858 shares of the healthcare company’s stock worth $946,028,000 after buying an additional 334,085 shares during the last quarter. BlackRock Inc. lifted its stake in UiPath by 32.1% in the second quarter. BlackRock Inc. now owns 23,376,854 shares of the healthcare company’s stock valued at $387,354,000 after purchasing an additional 5,681,577 shares during the last quarter. FMR LLC lifted its stake in UiPath by 2.9% in the third quarter. FMR LLC now owns 16,238,176 shares of the healthcare company’s stock valued at $277,835,000 after purchasing an additional 463,032 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in UiPath by 37.4% in the second quarter. Goldman Sachs Group Inc. now owns 11,662,087 shares of the healthcare company’s stock valued at $193,241,000 after purchasing an additional 3,172,300 shares during the last quarter. Finally, Altimeter Capital Management LP lifted its stake in UiPath by 175.4% in the first quarter. Altimeter Capital Management LP now owns 8,275,000 shares of the healthcare company’s stock valued at $71,579,000 after purchasing an additional 5,270,194 shares during the last quarter. 59.04% of the stock is owned by institutional investors.

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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.