UiPath (NYSE:PATH) Price Target Raised to $28.00

UiPath (NYSE:PATH) had its price target raised by TD Cowen from $25.00 to $28.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the healthcare company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of UiPath from $16.00 to $17.00 and gave the company an equal weight rating in a research report on Friday, December 1st. Scotiabank started coverage on shares of UiPath in a research report on Wednesday, February 21st. They set a sector perform rating for the company. Wells Fargo & Company lifted their price target on shares of UiPath from $18.00 to $20.00 and gave the company an equal weight rating in a research report on Friday, December 1st. JPMorgan Chase & Co. upgraded shares of UiPath from a neutral rating to an overweight rating and lifted their price target for the company from $22.00 to $28.00 in a research report on Thursday. Finally, Needham & Company LLC lifted their price target on shares of UiPath from $25.00 to $30.00 and gave the company a buy rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, UiPath presently has a consensus rating of Hold and an average price target of $27.13.

UiPath Stock Performance

PATH traded up $0.32 during trading on Thursday, reaching $23.07. The company’s stock had a trading volume of 9,842,354 shares, compared to its average volume of 10,074,664. UiPath has a 52-week low of $12.38 and a 52-week high of $27.87. The company’s fifty day moving average price is $23.52 and its 200-day moving average price is $20.70. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of -135.46 and a beta of 0.97.

Insider Activity

In related news, CFO Ashim Gupta sold 16,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $22.47, for a total transaction of $359,520.00. Following the completion of the sale, the chief financial officer now directly owns 103,505 shares of the company’s stock, valued at approximately $2,325,757.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other UiPath news, CFO Ashim Gupta sold 16,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $22.47, for a total value of $359,520.00. Following the transaction, the chief financial officer now owns 103,505 shares in the company, valued at approximately $2,325,757.35. The sale was disclosed in a document filed 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 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 completion of the transaction, the director now owns 429,418 shares in the company, valued at approximately $9,928,144.16. The disclosure for this sale can be found here. Insiders sold 411,000 shares of company stock valued at $9,418,670 in the last ninety days. Company insiders own 31.03% of the company’s stock.

Hedge Funds Weigh In On UiPath

A number of institutional investors have recently added to or reduced their stakes in PATH. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of UiPath in the 4th quarter valued at about $25,000. HighMark Wealth Management LLC acquired a new stake in shares of UiPath in the 4th quarter valued at about $27,000. Tyler Stone Wealth Management acquired a new stake in shares of UiPath in the 2nd quarter valued at about $28,000. Cypress Capital Management LLC WY acquired a new stake in shares of UiPath in the 4th quarter valued at about $29,000. Finally, Fifth Third Bancorp raised its stake in UiPath by 2,005.3% during the third quarter. Fifth Third Bancorp now owns 2,000 shares of the healthcare company’s stock worth $34,000 after acquiring an additional 1,905 shares during the period. Institutional investors and hedge funds own 59.04% 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, and Japan. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.